Question & Answer: Presented below are transactions related to Bogner Company 1. On December 3, Bogner Company sold $650,000 of merch…..

Presented below are transactions related to Bogner Company 1. On December 3, Bogner Company sold $650,000 of merchandise to Maris Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was $353,600. 2. On December 8, Maris Co, was granted an allowance of $29,500 for merchandise purchased on December 3 3. On December 13, Bogner Company received the balance due from Maris Co. Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system, (Credit account titles are automatically indented when amount not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the anmounts.) Date Account Titles and Explanation Debit Credit 1. (To record credt sale) To record cost of merchandise sold) . Dec. 13 Assume that Bogner Company received the balance due from Mar Co on wary 2 of the oloning year estead of December 13. Prepare the Jounal enery to record the receipt of payment os January 3. nccount ttles are automotically insdented whon noot is entered, C not indeint maity n enterysolech wo oury for the sccount tiaes and ater for the amounts