The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Grouper Ltd. sold goods to Monty Corp. for $68,700, terms n/15, FOB shipping point. The inventory had cost Grouper $36,500. Grouper's management expected a return rate of 3% based on prior experience. 7 Shipping costs of $940 were paid by the appropriate company. 8 Monty returned unwanted merchandise to Grouper. The returned merchandise has a sales price of $2,120, and a cost of $1,140. It was restored to inventory. 11 Grouper received the balance due from Monty. (a) Record the above transactions in the books of Grouper. (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 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)