Current Attempt in Progress On December 1, 2022, Splish Brothers Inc. had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,100, terms 1/10,n/30. 17 Sold merchandise on account $16,500, terms 2/10,n/30. The cost of the merchandise sold was $9,700. 19 Paid salaries $2,300. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,600 cash from customers in payment of account (no discount allowed). Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold) Dec. 26