On December 1, 2022, Crane Company had the account balances shown below. Debit Credit Cash $5.500 Accumulated Depreciation-Equipment $1,500 Accounts Receivable 4.200 Accounts Payable 3,600 Inventory 2,400 Owner's Capital 27,000 Equipment 20,000 $32,100 $32.100 "(4,000 x $0.60) The following transactions occurred during December: Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.74 per unit. Sold 4,600 units of inventory on account for $0.90 per unit. (Crane sold 4,000 of the $0.60 units and 600 of the $0.74) 5 7 Granted the December 5 customer $201 credit for 200 units of inventory returned costing $134. These units were returned to inventory. 17 Purchased 2.200 units of inventory for cash at $0.80 each. 22 Sold 3,100 units of inventory on account for $0.95 per unit. (Crane sold 3,100 of the $0.74 units.) Adjustment data: 1 Recognized accrued salaries payable $600. 2 Recognized depreciation $240 per month (a) Journalize the December transactions and adjusting entries, assuming Crane uses the perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation 0 (To record sales revenue.) 0 (To record cost of goods sold.) (To record sales returns.) Debit Credit Question 1 of 1 < (To record cost of sales returns.) -15 (To record sales revenue.) (To record cost of goods sold.) (To record accrued expense.) (To record depreciation expense.) Question 1 of 1 Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post ent journal entries presented above.) Cash Accounts Receivable 0 0 o Inventory O Equipment uestion 1 of 1 Accounts Payable 0 0 Accumulated Depreciation-Equipment Salaries and Wages Payable Owner's Capital Sales Revenue 0 o 0 Question 1 of 1 0 eTextbook and Media List of Accounts Salaries and Wages Expense Cost of Goods Sold Sales Returns & Allowances Depreciation Expense 0 Attes