1.record the above transaction in the books of flint.

2.record the above transaction in the books of pina colada.

3.calculate the gross profit earned by flint.

The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Flint Ltd.sold goods to Pina Colada Corp.for $ 68,6.00,trms 2/10, n/30, FOB shipping point. The inventory had cost Flint $ 36,700. 7 Shipping costs of $ 940 were paid by the appropriate company 8 Pina Colada returned unwanted merchandise to Flint. The returned merchandise has a sales price of $2,000, and a cost of $1,120. It was restored to inventory 11 Flint received the balance due from Pina Colada