On December 1, 2017, Oriole Company had the account balances shown below.

		Debits				Credits
Cash		$4,390		Accumulated DepreciationEquipment		$1,620
Accounts Receivable		4,220		Accounts Payable		3,250
Inventory (2,800 x $0.60)		1,680		Common Stock		10,300
Equipment		19,300		Retained Earnings		14,420
		$29,590				$29,590

The following transactions occurred during December.

Dec. 3		Purchased 3,800 units of inventory on account at a cost of $0.72 per unit.
5		Sold 4,200 units of inventory on account for $1.00 per unit. (It sold 2,800 of the $0.60 units and 1,400 of the $0.72.)
7		Granted the December 5 customer $200 credit for 200 units of inventory returned costing $170. These units were returned to inventory.
17		Purchased 2,200 units of inventory for cash at $0.80 each.
22		Sold 2,000 units of inventory on account for $0.87 per unit. (It sold 2,000 of the $0.72 units.)

Adjustment data:

1.		Accrued salaries and wages payable $410.
2.		Depreciation on equipment $190 per month.
3.		Income tax expense was $200, to be paid next year.

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.)

Cash

Accounts receivable

Inventory

Equipment

Accounts payable

Accumulated Depreciation-Equipment

Salaries and Wages Payable

Common Stock

Income Taxes Payable

Retained Earnings

Sales Revenue

Salaries and Wages Expense

Cost of Goods Sold

Sales Returns and Allowances

Depreciation Expense

Income Tax Expense