Accounting Cycle Review 6 a-c, d1-d2, e-f (Part Level Submission)

Accounting Cycle Review 6 a-c, di-d2, e-f (Part Level Submission) On December 1, 2020, Matthias Company had the account balances shown below. Debit Credit Cash $4,900 Accumulated Depreciation-Equipment $1,400 Accounts Receivable 3,700 Accounts Payable 2,800 Inventory 1,740 * Common Stock 20,200 Equipment 22,100 Retained Earnings 8,040 $32,440 $32,440 *(2,900 x $0.60) The following transactions occurred during December. Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.68 per unit. 5 Sold 4,400 units of inventory on account for $1.00 per unit. (Matthias sold 2,900 of the $0.60 units and 1,500 of the $0.68.) 7 Granted the December 5 customer $300 credit for 300 units of inventory returned costing $180. These units were returned to inventory. 17 Purchased 2,400 units of inventory for cash at $0.80 each. 22 Sold 2,100 units of inventory on account for $1.05 per unit. (Matthias sold 2,100 of the $0.68 units.) Adjustment data: 1. Accrued salaries payable $430. 2. Depreciation $190 per month. (a) Journalize the December transactions, assuming Matthias uses the perpetual inventory method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit CreditDate Account Titles and Explanation Debit Credit (To record sales revenue) (To record cost of goods sold) (To record sales return) (To record cost of goods returned) (To record sales revenue)(To record sales revenue) (To record cost of goods sold) Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (1) (To record accrued expense) (2) (To record depreciation expense) Attempts: 0 of 1 used