On December 1, 2020, Matthias Company had the account balances shown below Credit $1,600 3,000 18,600 11,040 $34,240 Debit Cash Accounts Receivable Inventory Equipment $5,200 Accumulated Depreciation-Equipment 4,200 Accounts Payable 1,740 *Common Stock 23,100 Retaied Earnings $34,240 *(2,900 x $0.60) The following transactions occurred during December Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.68 per unit. 5 Sold 4,500 units of inventory on account for $0.90 per unit. (Matthias sold 2,900 of the $0.60 units and 1,600 of the $0.68.) 7 Granted the December 5 customer $90 credit for 100 units of inventory returned costing $60. These units were returned to inventory 17 Purchased 2,200 units of inventory for cash at $0.70 each 22 Sold 1,600 units of inventory on account for $0.95 per unit. (Matthias sold 1,600 of the $0.68 units.) Adjustment data: 1. Accrued salaries payable $410 2. Depreciation $200 per month Enter the December 1 balances in the ledger T-accounts and post the December transactions. In addition to the accounts mentioned above, use the following additional accounts: Cost of Goods Sold Depreciation Expense, Salaries and Wages Expense, Salaries and Wages Payable, Sales Revenue, and Sales Returns and Allowances. (Post entries in the order of journal entries presented above.) Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Returns & Allowances Cost of Goods Sold Salaries and Wages Expense Depreciation Expense