On December 1, 2020, Matthias Company had the account balances shown below. Debit Credit Cash $4,500 Accumulated Depreciation-Equipment $1,600 Accounts Receivable 4,000 Accounts Payable 3,100 Inventory 1,800 Common Stock 22,000 Equipment 20,400 Retained Earnings 4,000 $30,700 $30,700 *(3,000 x $0.60) 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 7 Sold 4,100 units of inventory on account for $0.90 per unit. (Matthias sold 3,000 of the $0.60 units and 1,100 of the $0.76.) Granted the December 5 customer $90 credit for 100 units of inventory returned costing $60. These units were returned to inventory. 17 Purchased 2,500 units of inventory for cash at $0.80 each. 22 Sold 2,700 units of inventory on account for $0.95 per unit. (Matthias sold 2,700 of the $0.76 units.) 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