The following transactions are for Crane Company. 1. 2. On December 3, Crane Company sold $520,000 of merchandise to Cullumber Co. on account. The cost of the merchandise sold was $343,200. On December 8, Cullumber Co. returned $26,000 of merchandise purchased on December 3. The cost of the goods was $16,640. 3. On December 13, Crane Company received the balance due from Cullumber Co. Prepare a tabular summary to record these transactions for Crane Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.