Presented below are transactions related to Sandhill Company. 1. 2. 3. On December 3, Sandhill Company sold $647,000 of merchandise on account to Monty Co., terms 3/10, n/30, FOB destination. Sandhill paid $400 for freight charges. The cost of the merchandise sold was $372,800. On December 8, Monty Co. was granted an allowance of $22.000 for merchandise purchased on December 3. On December 13, Sandhill Company received the balance due from Monty Co. (a) Your answer is partially correct. Prepare the journal entries to record these transactions on the books of Sandhill Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Dec. 3 Accounts Receivable Sales Revenue (To record credit sale) Debit 647,000 Credit 647,00 Dec. 8 Cost of Goods Sold Inventory (To record cost of merchandise sold) Sales Returns and Allowances Accounts Receivable i (To record freight charges) Dec 13 Cash Sales Discounts Dec 13 Accounts Receivable eTextbook and Media List of Accounts 372,800 22,000 612,500 12.500 372,80 22,00 625.00