The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Pina Colada Ltd. sold goods to Flint Corp. for $62,200, terms n/15, FOB shipping point. The inventory had cost Pina Colada $33,000. Pina Colada's management expected a return rate of 3% based on prior experience. 7 Shipping costs of $840 were paid by the appropriate company. 8 Flint returned unwanted merchandise to Pina Colada. The returned merchandise has a sales price of $1,920, and a cost of $1,040. It was restored to inventory. 11 Pina Colada received the balance due from Flint. (a) Record the above transactions in the books of Pina Colada. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) Date Account Titles and Explanation Debit Credit (To record credit sale)