COMPREHENSIVE PROBLEM cpa victoria company's balance sheet at December 31, 2013, is presented below. Victoria Company Balance Sheet December 31, 2013 13.100 Accounts payable 8750 19,780 Common stock 20,000 Cash receivable Accounts doubtful accounts Allowance for (800) Retained earnings 12,730 9,400 $41,480 Inventory $41,480 During January 2014, the following transactions occurred. Victoria uses the perpetual inventory method. Jan. 1 Victoria accepted a month, 8% note from Leon Company in payment of Leon account. 3 victoria wrote off as uncollectible the accounts of Barker Corporation (s450 and Elmo Company ($330). 8 Victoria purchased $17,200 of inventory on account. 11 Victoria sold for $25,000 on account inventory that cost $17,500. 15 Victoria sold inventory that cost $780 to Joe Haribo for $1,200. Haribo charged this amount on his Visa First Bank card. The service fee charged Victoria by First Bank is 3%. 17 victoria collected $22,900 from customers on account. 21 Victoria paid 16,300 on accounts payable