Answer:
1) December 3, 202x, merchandise sold on account to Sarasota Corp., credit terms 4/10, n/30, FOB shipping point.
Dr Accounts receivable 644,700
Cr Sales revenue 644,700
Dr Cost of goods sold 363,600
Cr Merchandise inventory 363,600
2) December 8, 202x, sales allowance granted to Sarasota Corp.
Dr Sales returns and allowances 27,400
Cr Accounts receivable 27,400
Sales returns and allowances is a contra revenue account that decreases sales revenue.
3) December 13, 202x, invoice collected from Sarasota Corp.
Dr Cash 592,608
Dr Sales discounts 24,692
Cr Accounts receivable 617,300
Sales discounts is another contra revenue account that decreases sales revenue.
