The following transactions are for Kingbird Company. 1. On December 3, Kingbird Company sold $450,000 of merchandise to Blossom Co., on account, terms 1/10, n/30. The cost of the merchandise sold was $310,000.
2. On December 8, Blossom Co. was granted an allowance of $22,000 for merchandise purchased on December 3.
3. On December 13, Kingbird Company received the balance due from Blossom Co.
Instruction:
Prepare the journal entries to record these transactions on the books of Mack Company. Mack uses a perpetual inventory system.

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?