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curres omp res Prepare the jourmal entries terecord the folowing tr entry is ered select NoEntryfor the aunt es andenter Ofrthe amuntsCeditaccunt eatomatilly amount isentered. De not indent manual Record jounal entriihe rder predinthe problem Sons on Crane Company's books uningaperpetual inventorysystem ed when 3. On March 2 Crane Company sold Se9.700 of merchandise to Lakspur Company onaccount terms 1030. The cost ot the merchandise sold was $586400. he On March6. Larkpur Company retumed $117700 of the merchandior purchased on March 2 The cost of the merchandie returmed was S63s00 On March 12. Crane Company received the balance due tron Larkspur Company No. Date Account Titles and Explanation Debit Credit March2 Accunts Re le Sales Re (To record sale of merchandise) Mach 2 Coof Ce Sd tary

curres omp res Prepare the jourmal entries terecord the folowing tr entry is ered select NoEntryfor the aunt es andenter Ofrthe amuntsCeditaccunt eatomatilly amount isentered. De not indent manual Record jounal entriihe rder predinthe problem Sons on Crane Company's books uningaperpetual inventorysystem ed when 3. On March 2 Crane Company sold Se9.700 of merchandise to Lakspur Company onaccount terms 1030. The cost ot the merchandise sold was $586400. he On March6. Larkpur Company retumed $117700 of the merchandior purchased on March 2 The cost of the merchandie returmed was S63s00 On March 12. Crane Company received the balance due tron Larkspur Company No. Date Account Titles and Explanation Debit Credit March2 Accunts Re le Sales Re (To record sale of merchandise) Mach 2 Coof Ce Sd tary

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- Chapter 05 Homework (GRADED Lurrem mp rgrew Prepare the journal entries torecord the following transactions on Crane Companys books uning a perpetual inventory system ne entry is reauired, select "No Entry for the account titles and enter Ofor the amounts Creditaccount tiles are atomatically indented when amount is entered. Do not indent maually Record journal entries in the order presented in the problem On March 2. Crane Company sold Se9.700 of merchandise to Larkspur Company on account terms 3/10. 30. The cost of the merchandise sold was $586.400. On March 6. Larkspur Company returned $117,700 of the merchandise purchased on March 2. The cont of the merchandise returned was S63.s00 On March 12 Crane Company received the balance due fron Larkspur Company No. Date Account Titles and Explanation Debit Credit March Acceunts Receivable Sales Reve (To record sale of merchandise) March 2 Cotof Goods Sold Ivantory March Sales Retuand Alownces
Transcribed Image Text:- Chapter 05 Homework (GRADED Lurrem mp rgrew Prepare the journal entries torecord the following transactions on Crane Companys books uning a perpetual inventory system ne entry is reauired, select "No Entry for the account titles and enter Ofor the amounts Creditaccount tiles are atomatically indented when amount is entered. Do not indent maually Record journal entries in the order presented in the problem On March 2. Crane Company sold Se9.700 of merchandise to Larkspur Company on account terms 3/10. 30. The cost of the merchandise sold was $586.400. On March 6. Larkspur Company returned $117,700 of the merchandise purchased on March 2. The cont of the merchandise returned was S63.s00 On March 12 Crane Company received the balance due fron Larkspur Company No. Date Account Titles and Explanation Debit Credit March Acceunts Receivable Sales Reve (To record sale of merchandise) March 2 Cotof Goods Sold Ivantory March Sales Retuand Alownces
March 2 Accounts Recelatle Sales Revenue (To record sale of merchandise) March 2 Castof Goods Sold Inventory (b) March 6 Sales Returns and Alowances Accounts Recevable (To record return of merchandise) March6 Iventory Cast of Goods Sold March 12 Cash Sales Discounes
Transcribed Image Text:March 2 Accounts Recelatle Sales Revenue (To record sale of merchandise) March 2 Castof Goods Sold Inventory (b) March 6 Sales Returns and Alowances Accounts Recevable (To record return of merchandise) March6 Iventory Cast of Goods Sold March 12 Cash Sales Discounes
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