On December 1, 2022, Sheridan Company had the following account balances.

		Debit				Credit
Cash		$18,700		Accumulated DepreciationEquipment		$3,100
Notes Receivable		2,300		Accounts Payable		6,000
Accounts Receivable		8,000		Common Stock		53,400
Inventory		16,400		Retained Earnings		13,000
Prepaid Insurance		1,700				$75,500
Equipment		28,400
		$75,500

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. $11,800, terms 1/10, n/30.
17		Sold merchandise on account $16,400, terms 2/10, n/30. The cost of the merchandise sold was $9,500.
19		Paid salaries $2,100.
22		Paid Vance Co. in full, less discount.
26		Received collections in full, less discounts, from customers billed on December 17.
31		Received $2,800 cash from customers in payment of account (no discount allowed).

Adjustment data:

1.		Depreciation was $210 per month.
2.		Insurance of $390 expired in December.

(a)

Partially correct answer icon

Your answer is partially correct.

Journalize the December transactions. (Assume a perpetual inventory system.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)