The following merchandise transactions occurred in December. Both complanies use a perpetual inventory system. Dec. 3 Bridgeport Ltd. sold goods to Sarasota Corp. for $75,200, terms n/15, FOB shipping point. The inventory had cost Bridgeport $40,000. Bridgeport's management expected a return rate of 3% based on prior experience. 7 Shipping costs of $1,040 were paid by the appropriate company. 8 Sarasota returned unwanted merchandise to Bridgeport. The returned merchandise has a sales price of $2,320, and a cost of $1,240. It was restored to inventory. 11 Bridgeport received the balance due from Sarasota. Record the above transactions in the books of Bridgeport. (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, eg. 5,275.) (To record cost of merchandise sold) (To record return of goods) (Fo record cost of merchand se returned)