Prepare the necessary general journal entries for the month of October for Crane Retail for each situation given below. Crane uses a perpetual inventory system. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) Oct. 5 : Paid cash of $15 , 876 for operating expenses that were incurred and properly recorded in the previous period. 9 Purchased merchandise for $27 , 500 on account. Credit terms: 3/10 , n /30 . 12. Paid a freight bill of $134 for merchandise purchased on October 9. 17. Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 Sold merchandise for $10 , 080 to Rattles Distribution on account. The cost of the merchandise sold was $4 , 032 . Credit terms: 2/10 , n /30 . 26 Issued a credit memo to Rattles Distribution for $378 for merchandise returned from the saie on October 20. The cost of the merchandise returned was $236 . (Torecord the sale of merchandise) (To record the cost of the merchandise sold) (To record the credit granted for the return) (To record the cost of the goods returned).

1. Prepare the necessary general journal entries for the month of October for Crane Retail for each
situation given below. Crane uses a perpetual inventory system. (Credit occount titles are
automatically indented when the amount is entered. Do not indent manually. List all debit entries
before credit entries) Oct. 5 : Paid cash of $15 , 876 for operating expenses that were incurred
and properly recorded in the previous period. 9 Purchased merchandise for $27 , 500 on account.
Credit terms: 3/10 , n /30 . 12. Paid a freight bill of $134 for merchandise purchased on October
9. 17. Paid for merchandise purchased on October 9. The company takes all discounts to which it
is entitled. 20 Sold merchandise for $10 , 080 to Rattles Distribution on account. The cost of the
merchandise sold was $4 , 032 . Credit terms: 2/10 , n /30 . 26 Issued a credit memo to Rattles
Distribution for $378 for merchandise returned from the saie on October 20. The cost of the
merchandise returned was $236 . (Torecord the sale of merchandise) (To record the cost of the
merchandise sold) (To record the credit granted for the return) (To record the cost of the goods
returned)