Question: WP Question 11 of 16 - Test # 3 - July X + X C go education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=85d36624-eeoc-4045-99cd-2720386871b#/question/10 @- * : Question 11 of 16 -

WP Question 11 of 16 - Test # 3 - July X + X C go education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=85d36624-eeoc-4045-99cd-2720386871b#/question/10 @- * : Question 11 of 16 - /14 Crane Manufacturing Inc. is a local manufacturing company. Rather than sell its product directly, Crane ships its finished goods inventory to Shamrock Retailing Ltd., who sells the product for Crane on consignment. During 2023, Crane ships $119,000 in merchandise to Shamrock. At the end of 2023, Shamrock has sold 65% of the merchandise for $79,000. Shamrock notifies Crane of the sales, retains a 20% commission, and remits the cash due to Crane. (a) Prepare all the necessary journal entries on the books of Crane Manufacturing to record the consignment transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit 1. (To record shinned merchandise ) W A P NO . .. 9:59 AM 7/26/2024 35 PRE

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