On March 10, 2025, Crane Company sold to Windsor Hardware 220 tool sets at a...
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On March 10, 2025, Crane Company sold to Windsor Hardware 220 tool sets at a price of $50 each (cost $32 per set) with terms of sets will be returnod (2) the cont of recovering the products will be immaterlad and (D) the returned tools sets can be resold at a proft. On March 25, 2025, Windsor returned 7 tool sets and recelved a credit to its account (a) Prepare journal entries for Crane to record (1) the sale on March 10, 2025. (2) the return on March 25, 2025, and (3) any adjusting entries required on March 31, 2025 (when Crane prepares financlal statements) Crane believes the original estimate of returms is correct icredit account titier are artomatlealy indented when the amount is entered Do not indent manualy. if no entry is required: Indicate the income statement reporting by Crane at March 31, 2025, of the information related to the Windsor sales transaction. eTextbook and Media List of Accounts Attempts: 0 of 5 used (b2) Indicate the balance sheet reporting by Crane at March 31, 2025, of the information related to the Windsor sales transaction
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