On December 1, 2022, Whispering Winds Corp. had the following account balances Debit Credit Cash $18,000 Accumulated Depreciation-Equipment $3,100 Notes Receivable 2,000 Accounts Payable 6,200 Accounts Receivable 7.200 Common Stock 50,500 14,400 Inventory 17,000 Retained Earnings Prepaid Insurance 1,600 $74,200 Equipment 28.400 $74,200 During December, the company completed the following transactions Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed) Purchased merchandise on account from Vance Co $13.000, terms 1/10, n/30 Sold merchandise on account $15,300, terms 2/10, n/30, The cost of the merchandise sold was $9,200 12 17 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 $2,700 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 amsunts Record journal entries in the order presented in the problem late Account Titles and Explanation 12 P 17 V 17 V (To record sales) (To record cost of goods sold) P .31 v Debit Credit