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The tollowine trantactions are for Crane Company. 1. On December 3 Crane Company sold $574,700...

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Accounting

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The tollowine trantactions are for Crane Company. 1. On December 3 Crane Company sold $574,700 of merchandise to Novak Co, on account, ferms 3/10,n/30, The cost of the inerchandise sold was 5343,600 2. On December 8, Nowak Co. was santed an allowance of $32,400 for merchundise purchased on December 3 . 3. On December 13, Crane Comouny recelved the bulance due from Novak Co. Prepare the journal entries to record these transactions on the books of Crane Company using a perpetual imventory system. (Credit account biles are oufomotically indented when amount is entered Do not indent manualy. If no entry is required, select "No Entry" for the occount titles and enter ofor the omounts.) Assume that Crane Company received the balance due from Novak Ca. on Jaruary 2 of thek following year instead of December 13. Prepare the journal entry to record the receipt of payment on Jarnary 2. (Credit occount tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts) Attempts: 0 of 1 used

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