The following transactions are for Marin Company.

1.		On December 3, Marin Company sold $455,200 of merchandise to Cullumber Co., on account, terms 1/10, n/30. The cost of the merchandise sold was $316,500.
2.		On December 8, Cullumber Co. was granted an allowance of $23,500 for merchandise purchased on December 3.
3.		On December 13, Marin Company received the balance due from Cullumber Co.

(a) Prepare the journal entries to record these transactions on the books of Marin. Marin uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No. Date Debit Credit Account Titles and Explanation Accounts Receivable 1. Dec. 3 455,200 455,4 Sales Revenue (To record sale of merchandise on account) Cost of Goods Sold Dec. 3 316,500 Inventory 316, (To record cost of merchandise sold on account) Sales Returns and Allowances 2. Dec. 8 23,500 Accounts Receivable 23, 3. Dec. 13 Cash 431700 Sales Discounts 8634 Accounts Receivable 4313