On December 1, 2017, Sheffield Corp. had the account balances shown below. Debits Credits Accumulated Depreciation-Equipment Cash $4,390 $1,400 Accounts Payable Accounts Receivable 2,940 3,560 Inventory (3,200 x $0.60) 1,920 Common Stock 9,400 Retained Earnings 18,730 Equipment 22,600 $32,470 $32,470 The following transactions occurred during December. Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.76 per unit. 5 Sold 4,600 units of inventory on account for $0.90 per unit. (It sold 3,200 of the $0.60 units and 1,400 of the $0.76.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $150. 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 $0.99 per unit. (It sold 2,000 of the $0.76 units.) Adjustment data: 1. Accrued salaries and wages payable $330. 2. Depreciation on equipment $190 per month 3. Income tax expense was $230, 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 Eauinmont