he following merchandise transactions occurred in December. Both companies use a perpetual inventory system.

Dec.	3		Swifty Ltd. sold goods to Blue Spruce Corp. for $81,700, terms n/15, FOB shipping point. The inventory had cost Swifty $43,500. Pictous management expected a return rate of 3% based on prior experience.
	7		Shipping costs of $1,140 were paid by the appropriate company.
	8		Blue Spruce returned unwanted merchandise to Swifty. The returned merchandise has a sales price of $2,520, and a cost of $1,340. It was restored to inventory.
			dec 11 Swifty received the balance due from Blue Spruce. Record the above transactions in the books of Blue Spruce. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)