Debit Credit Cash $17,700 Accumulated Depreciation-Equipment $3,000 Notes Receivable 2,000 Accounts Payable 6,200 Accounts Receivable 7,400 Owner's Capital 64,400 Inventory 16,600 $73,600 Prepaid Insurance 1,600 Equipment 28,300 $73,600 During December, the company completed the following transactions. Dec. 7 Received $3,700 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,000, terms 1/10, n/30. 17 Sold merchandise on account $15,700, terms 2/10, n/30. The cost of the merchandise sold was $9,200. 19 Paid salaries $2,200. 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). Adjustment data: Test on Chapters 10-12 C WNWP Assessment Builder UI A X Question 1 of 1 - Test on Chapt On December 1, 2022, Sunland x 12 000 tim education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=c8a79685-2489-4802-9aa0-f6fcffb1ffa6#/question/0 Test on Chapters 10-12 Question 1 of 1 < (b) Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented in esc ~ 1 Cashi Notes Receivable Accounts Receivable Inventory MacBook Air MacBook Air Test on Chapters 10-12 x NWP Assessment Builder Ut A X On December 1, 2022, Sunlan x 12 000 times 1 percent-Goog x Question 1 of 1-Test on Chap: x education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=c8a79685-2489-4802-9aa0-f6fcffb1ffa6#/question/0 Test on Chapters 10-12 Question 1 of 1 < > Journalize the December transactions. (Assume a perpetual inventory system.) (Credit account titles are automatically indented when amount is entered. Do not indent m esc Date Account Titles and Explanation Dec. 7 Cash Accounts Receivable Dec. 12 Inventory Debit 3700 12.000 Accounts Payable Dec. 17 Accounts Receivable 15,700 Sales Revenue (To record sales) Dec. 17 Cost of Goods Sold 9,200 Dec. 19 Fi Inventory (To record cost of goods sold) Salaries and Wages Expense * 80 F5 F 2:200 MacBook Air Credit 3700 12,000 15,700 9 200 2.200 Dill D 9 $3 10 F1 * 80 a 0 F2 F3 F4 FS B DII FB ! @ # $ 1 2 3 4 %5 i @ # $ 2 3 4 85 % ^ 6 &7 O * 1 Q W C 8 9 E R T Y ^ & 6 7 8 9 O U 1 Q W E R T Y U 1 A S D LL F G H J K L Z U V B N M P