On December 1, 2020, Bonita Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $11,000, terms 1/10,n/30. 17 Sold merchandise on account $16,300, terms 2/10,n/30. The cost of the merchandise sold was $9,200. 19 Paid salaries $2,200. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,800 cash from customers in payment of account (no discount allowed). 31 Received $2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation $210 per month. 2. Insurance expired $400. Test on Chapters 10- 12 Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Question 1 of 1 12 Owner's Capital Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense