Sales Returns and Allowances Short-Term Investments Supplies Supplies Expense Telephone Expense Unearned Revenue Utilities Expense The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Crane Company sold merchandise to Cullumber Co. for $38,000, terms 2/10,n/30, FOB destination. This merchandise cost Crane Company $18,000. 4 The correct company paid freight charges of $700. 8 Cullumber Co. returned unwanted merchandise to Crane. The returned merchandise had a sale price of $2,700 and a cost of $990. It was restored to inventory. 13 Crane Company received the balance due from Cullumber Co. Prepare the journal entries to record these transactions on the books of Crane Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) (To record credit for goods returned.) (To record cost of goods returned.)