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The following transactions are for Sundand Comparty. 1. On December 3 , Sunland Company sold $654,200 of nerchandite to Marisold Co, on account, terms 2/10,

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The following transactions are for Sundand Comparty. 1. On December 3 , Sunland Company sold $654,200 of nerchandite to Marisold Co, on account, terms 2/10, N/30, FOA destination Sunland paid $390 for freight charges. The cost of the merchandise sold was $373,500. 2. On December B, Marigold Ca. was granted an allowance of $23,200 for merchundise purchased on December 3. 3. On December 13, Sunland Company received the balance due from Marigolitico. Prepare the journal entries to record these transactions on the books of Sunland Company using a perpetual inveritory system. (To record cost merchandice sold) (To record freight charges) 2 2

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