Crane Company buys merchandise on account from Larkspur Company. The selling price of the goods is $1,180
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Question:
Crane Company buys merchandise on account from Larkspur Company. The selling price of the goods is $1,180 and the cost of the goods sold is $605. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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