The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Flint Ltd, sold goods to Pina Colada Corp. for $71,300, terms n/15, FOB shipping point. The inventory had cost Flint $37,900. Flint's management expected a retum rate of 3% based on prior experience. 7 Shipping costs of $980 were paid by the appropriate company. 8 Pina Colada returned unwanted merchandise to Flint. The returned merchandise has a sales price of $2,200, and a cost of $1,180. It was restored to inventory. 11 Flint received the balance due from Pina Colada. Record the above transactions in the books of Flint. (List all debit entries before credit entries. Credit account tities 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, es. 5.275.) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned)