Presented below are transactions related to Bogner Company.

Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system.

Assume that Bogner Company received the balance due from Maris 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.

1. On December 3, Bogner Company sold $649,200 of merchandise to Maris Co., terms 3/10, n/30, FOB shipping point. The cost of the merchandise sold was $400,400 2. On December 8, Maris Co. was granted an allowance of $27,700 for erchandise purchased on December 3 3. On December 13, Bogner Company received the balance due from Maris Co