The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Riverbed Ltd. sold goods to Concord Corp. for $68,900,terms 2/10, rv30, FOB shipping point. The inventory had cost Riverbed $34,800. 7 Shipping costs of $860 were paid by the appropriate company 8 Concord returned unwanted merchandlise to Riverbed. The returned merchandise has a sales price of $2.000, and a cost of $1,160. It was restored to inventory 11 Riverbed received the balance due from Concord. Part 1 Record the above transactions in the books of Riverbed. (Credit account titles are automatically indented when the amount is entered. indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar, eg. 5,275) Do not Date Account Titles and Explanation Debit Credit Dec. 3 To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned) Part 2 Record the above transactions in the books of Concord. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar,e.5,275.) Date Account Titles and Explanation Debit Credit Dec. 3 Part 3 Calculate the gross profit earned by Riverbed on the above transactions Gross Profit$