iment Accounts Receivable 4800 3.600 1.920. 21.700 $32,000 Accumulated Depreciation- Accounts Payable Common Stock metrings Equipment *(3,200 x $0.60) The following transactions occurred during December. Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.70 per unit. s Sold 4,200 units of inventory on account for $0.90 per unit. (Matthias sold 3,200 of the $0.60 units and 1,000 of the $0.70.) Granted the December 5 customer $270 credit for 300 units of inventory returned costing $180. These units were returned to inventory. 17 Purchased 2,100 units of inventory for cash at $0.80 each. 22 Sold 2,000 units of inventory on account for $0.95 per unit. (Matthias sold 2,000 of the $0.70 units.) Journal Entry