Presented below are transactions related to R. Humphrey Company.

1.		On December 3, R. Humphrey Company sold $586,700 of merchandise to Frazier Co., terms 4/10, n/30, FOB destination. R. Humphrey paid $400 for freight charges. The cost of the merchandise sold was $391,300.
2.		On December 8, Frazier Co. was granted an allowance of $28,000 for merchandise purchased on December 3.
3.		On December 13, R. Humphrey Company received the balance due from Frazier Co.