2 of 6 < > View Policies -/4 E Current Attempt in Progress The following transactions are for Crane Company. 1. 2. On December 3, Crane Company sold $630,000 of merchandise to Cullumber Co. on account. The cost of the merchandise sold was $415,800. On December 8, Cullumber Co. returned $31,500 of merchandise purchased on December 3. The cost of the goods was $20,160. 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. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Question 2 of 6 < > Date Dec. 3 8 13 13 Cash GA Assets Accts. Rec. Inventory Question 2 of 6 Liabilities Accts. Rev. Pay. Common Stock -/4 : Stockholders' Equity Retained Earnings Exp. -/4 E : >