On December 1, 2020, Oriole Company had the following account balances Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment Debit $19.000 2,100 7.900 15,800 1,600 28,800 $75,200 Credit $3,000 6,000 66,200 $75,200 During December, the company completed the following transactions. Dec. 7 12 17 19 22 26 31 Received $3,600 cash from customers in payment of account (no discount allowed) Purchased merchandise on account from Vance Co. $11,500, terms 1/10,n/30. Sold merchandise on account $15,500, terms 2/10,n/30. The cost of the merchandise sold was $9.500. Paid salaries $2,300 Paid Vance Co. in full less discount. Received collections in full less discounts, from customers billed on December 17, Received $2,700 cash from customers in payment of account (no discount allowed) Adjustment data: 120 = 1. 2 Depreciation $190 per month Insurance expired $390. (a) Journalize the December transactions, (Assume a perpetual inventory system.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit (To record sales) (To record sales) (To record cost of goods sold) Dec. 26