1. During the whole December, Cruisers Boat Supply has the following transactions happened. (3*6=18)

1) Dec 2, Cruisers Boat Supply Sold merchandise inventory to Walmart, $ 9200, on account. Terms 1/20, n/60. Cost of goods sold, $3500. FOB destination with the freight of $99, in cash.

2) Dec 5, Cruisers Boat Supply purchased merchandise inventory with cash, $7900. FOB destination. Freight charged 75 of cash.

3) Dec 16, Cruisers Boat Supply rent an office for its headquarter because of office renovation. The rent is paid already for $3,000 for three months.

4) Dec 17, Cruisers Boat Supply returned $1200 of the merchandise purchased on December 5.

5) Dec 21, Cruisers Boat Supply received the payment from Walmart.