Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $52,200 with terms 3/15, n/45. On June 12, 2017, Crane received full payment for the June 1 sale.
1. Prepare the required journal entries for Crane Co.

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?