The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 7 Blue Spruce Ltd. sold goods to Swifty Corp. for $77,800, terms n/15, FOB shipping point. The inventory had cost Blue Spruce $41,400. Blue Spruce's management expected a return rate of 3% based on prior experience. Shipping costs of $1,080 were paid by the appropriate company. Swifty returned unwanted merchandise to Blue Spruce. The returned merchandise has a sales price of $2,400, and a cost of $1,280. It was restored to inventory. Blue Spruce received the balance due from Swifty. 8 11 (a) Record the above transactions in the books of Blue Spruce. (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) (To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned) Save for Later Attempts: 0 of 2 used Submit