Presented below are transactions related to Yarrow Company.
1. On December 3, Yarrow Company sold $570,000 of merchandise to Lampkins Co., terms 1/10, n/30, FOB shipping point. The cost of the merchandise sold was $364,800.
2. On December 8, Lampkins Co. was granted an allowance of $20,000 for merchandise purchased on December 3.
3. On December 13, Yarrow Company received the balance due from Lampkins Co.

Instructions
(a) Prepare the journal entries to record these transactions on the books of Yarrow Company using a perpetual inventory system.
(b) Assume that Yarrow Company received the balance due from Lampkins Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2.