The following merchandise transactions occurred in December. Both companies use a perpetual inventory system.Dec. $3$Riverbed Ltd$!$:Sold goods to Concord Corp. for $$59,600,$ terms n$/15,$ FOB shipping point. The inventory had cost Riverbed $$31,600.$ Riverbed's management expected a return rate of $3\%$ based on prior experience.$/$ Shipping costs of $$800$ were paid by the appropriate company$\mathrm{.}8$ Concord returned unwanted merchandise to Riverbed. The returned merchandise has a sales price of $$1,840,$ and a cost of $$1,000.$ It was restored to inventory$\mathrm{.}11$ Riverbed received the balance due from Concord.$($a$)$Record the above transactions in the books of Riverbed.