CALCULATOR PRINTER VERSION 4 NEXT On June 10, Crane Company purchased $8,000 of merchandise on account from Blue Company, FOB shipping point, terms 2/10, n/30. Crane pays the freight costs of $430 on June 11. Damaged goods totaling $500 are returned to Blue for credit on June 12. The fair value of these goods is $70. On June 19, Crane pays Blue Company in full, less the purchase discount. Both companies use a perpetual Inventory system. ed HW (a) Your answer is correct. 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.) Date Account Titles and Explanation Debit Credit June 10 Inventory 19000 Accounts Payable 8000 June 11 Inventory 430 cash 430 June 12 Accounts Payable 500 Inventory 500 June 19 Accounts Payable 7500 Inventory 150 Cash 7350 8-48 PM 7/9/2020 e pe here to search C Prison Home End PgUp Pgon ded HW Prepare separate entries for each transaction for Blue Company. The merchandise purchased by Crane on June 10 had cost Blue $4,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record credit sale) by (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) 8:49 PM 7/9/2020 E O e C 3. Type here to search POL PrtScn, End Home Poup 20 %