At the beginning of December 2018, Moonbucks decided that, in addition to the coffee shops, it will sell powdered coffee. Moonbucks uses a perpetual inventory system. It recorded the following transactions during the month: Dec. 2 Purchased 1,000 units of inventory for $4,000 on account from Ground Farm, n/20. FOB shipping point, paid $250 of freight. 4 Received credit from Ground Farm for merchandise returned \$1,200. 8 Sold 200 units in cash for $12 each to Alexa, total cost of $880 12 Paid Ground Farm. 14 Granted Alexa $120 credit for 10 units of goods returned costing $44. 15 Sold 500 units of goods to Kern Inc. on account for $6,500, terms 2/10,n/30. The goods sold had a cost of $2,022. 25 Received payment from Kern. 31 Recorded the following adjusting entries: b. Depreciation, furniture $100, equipment $150. c. Accrued wages expense of $2,100. On December 1, the company has the following accounts in the ledger: Requirements 1. Journalize the December transactions \& adjusting entries (Omit explanations). 2. Prepare adjusted trial balance by the end of the month. 3. Prepare the multi-step income statement for the month ended December 31, 2018