On December 1, 2020, Matthias Company had the account balances shown below Debit Credit $1,600 3,000 18,600 11,040 $34,240 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 Erter the December 1 balances in the edger T accounts and post the Decembertransactions Retuns and Allawances. (Post entries in the order of tournal entries presnted abovo.) ddition to the occounts en oned 00 e usc etollowing ac tional accounts Cost o Goods Solo, Depredation Expense Salanes and wages Expense. Salaries and wages Payble. Sales Revenue and Sales e the dar of Snd Cash Accounts Recelvable Inventory Accumulaled 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