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During December, the company completed the following transactions. Dec, 7 Received $3,640 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise

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During December, the company completed the following transactions. Dec, 7 Received $3,640 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Green Co. $12,800, terms 1/10,n/30. 17 Sold merchandise on account $15,600, terms 2/10,n/30. The cost of the merchandise sold was $10,200. 19 Paid salaries $2,030. 22 Paid Green Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,650 cash from customers in payment of account (no discount allowed). Enter the December 1 balances in the ledger T accounts and post the December transactions. (Post entries in the order of journal entries presented above.)

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