The following merchandise transactions occurred in January. Pippen Company uses a perpetual inventory system and the contract-based approach to revenue recognition. Pippen Company has a stated policy that all sales are final—no returns or exchanges.
Dec. 3 Pippen Company sold merchandise to Thomas Co. for $32,000, terms 2/10, n/30, FOB destination. This merchandise cost Pippen Company $18,000.

4 The correct company paid freight charges of $650.

8 Pippen Company sold merchandise to Frito Warehouse Store for $13,000, terms 2/10, n/30, FOB shipping point. The merchandise cost Pippen Company $7,250.

9 The correct company paid freight charges of $150. 13 Pippen Company received the balance due from Thomas Co.

29 Pippen Company received the balance due from Frito Warehouse Store.

Instructions
a. Prepare the journal entries to record these transactions on the books of Pippen Company.
b. Assuming that Pippen Company had a balance in Merchandise Inventory on December 1 of $39,000, determine the balance in the Merchandise Inventory account at the end of December for Pippen Company.