On December 1, 2017, Oriole Company had the account balances shown below. Cash Accounts Receivable Inventory (3,000 x $0.55) Equipment Debit $5,900 3,700 1.650 20,500 $31,750 Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Credit $1,500 3,000 27,250 $31,750 The following transactions occurred during December. Dec. 3 5 7 Purchased 4,000 units of inventory on account at a cost of $0.70 per unit Sold 4,400 units of inventory on account for $0.92 per unit. (It sold 3.000 of the $0.55 units and 1,400 of the $0.70.) Granted the December 5 customer $276 credit for 300 units of inventory returned costing $140. These units were returned to inventory. Purchased 2.100 units of inventory for cash at $0.78 each. Sold 2,100 units of inventory on account for $0.95 per unit. (It sold 2,100 of the $0.70 units.) 17 22 Adjustment data: 1. 2. Accrued salaries payable $600. Depreciation $100 per month. (a) Journalize the December transactions and adjusting entries, assuming Oriole uses the perpetual inventory method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 3