On December 1, 2022, Sheffield Company had the account balances shown below. Debit Credit Cash $5,200 Accumulated Depreciation-Equipment $1,200 Accounts Receivable 3,400 Accounts Payable 3,400 Inventory 2,280 Owner's Capital 28,280 Equipment 22,000 $32,880 $32,880 *(3,800 x $0.60) The following transactions occurred during December: Dec. 3 Purchased 4,600 units of inventory on account at a cost of $0.70 per unit. 5 7 Sold 4,900 units of inventory on account for $0.86 per unit. (Sheffield sold 3,800 of the $0.60 units and 1,100 of the $0.70.) Granted the December 5 customer $183 credit for 200 units of inventory returned costing $122. These units were returned to inventory. 17 Purchased 2,400 units of inventory for cash at $0.76 each. 22 Sold 3,000 units of inventory on account for $0.91 per unit. (Sheffield sold 3,000 of the $0.70 units.) Adjustment data: 1. Recognized accrued salaries payable $600. 2. Recognized depreciation $400 per month.