Record the following transactions on the books of Crane Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Crane Co. sold merchandise on account to Stacey Inc. for $23,860, terms 3/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $3,860 to Crane Co. (c) On July 11, Stacey Inc. paid for the merchandise. Date Account Titles and Explanation July 1 Accounts Receivable Sales Revenue Debit Credit 23860 July 8 Sales Returns and Allowances 3860 Accounts Receivable July 11- Cash Sales Discounts Accounts Receivable 23860 3860