The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3. 4 8 Crane Company sold merchandise to Thomas Co. for $38.000, terms 2/10, n/30, FOB destination. This merchandise cost Crane Company $18,000. The correct company paid freight charges of $700. Thomas Co. returned unwanted merchandise to Crane. The returned merchandise had a sales price of $2,700 and a cost of $990. It was restored to inventory. 13 Crane Company received the balance due from Thomas Co