Presented below are transactions related to Whispering Company.

On December $3,$ Whispering Company sold $$410,000$ of merchandise to Sharif Co$.,$ terms $\frac{2}{10},$ n$/30,$ FOB shipping point.

The cost of the merchandise sold was $$250,000.$

On December $8,$ Sharif Co$.$ was granted an allowance of $$20,000$ for merchandise purchased on December $3.$

On December $13,$ Whispering Company received the balance due from Sharif Co$.$

$($a$)$

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

system. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before

credit entries. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles

and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record sales revenue on account$)$

$($To record cost of goods sold$)$