Prepare separate entries for each transaction for Blue Company.The merchandise purchased by Crane on June...

Prepare separate entries for each transaction on the books of Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Prepare separate entries for each transaction for Blue Company. The merchandise purchased by Crane on June 10 had cost Blue $5,400.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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Expert Solution



Date	Account titles & Explanations	Debit	Credit

10-Jun	Accounts receivable	10,000
	sales		10,000

10-Jun	Cost of goods sold	5,400
	inventory		5,400

12-Jun	Sales return and allowance	350
	accounts receivable		350

19-Jun	Cash	9457
	Sales discount	193
	Accounts receivable		9650

ekkarill92 answered 2 years ago

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