On December 1, 2022, Blue Spruce Corp. had the following account balances. Debit Credit Cash $18,500 Accumulated Depreciation Equipment $3,100 Notes Receivable 2,400 Accounts Payable 6,000 Accounts Receivable 7,500 Common Stock 55,000 Inventory 16,200 Retained Earnings 11,000 Prepaid Insurance 1,500 $75,100 Equipment 29,000 $75,100 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. $12,400, terms 1/10, n/30. 17 Sold merchandise on account $16,500, terms 2/10, n/30. The cost of the merchandise sold was $9,500. 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. Equipment 29,000 $75,100 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. $12,400, terms 1/10, n/30. 17 Sold merchandise on account $16,500, terms 2/10, n/30. The cost of the merchandise sold was $9,500. 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 $2,600 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation was $200 per month. 2. Insurance of $400 expired in December. Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented in the previous part.) Cash 12/1 Bal. Notes Receivable Accounts Receivable 4 Inventory Inventory 4 Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable . Common Stock Common Stock 4 Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense