On December 1, 2022, Windsor, Inc. had the following account balances. Debit Credit Cash $18,500 Accumulated Depreciation-Equipment $2.900 Notes Receivable 2,300 Accounts Payable 6,100 Accounts Receivable 7,400 Common Stock 52,100 Inventory 16,400 Retained Earnings 12,900 Prepaid Insurance 1,700 $74,000 Equipment 27,700 $74,000 During December, the company completed the following transactions. Dec. 7 Received $3,700 cash from customers in payment of account (no discount allowed). During December, the company completed the following transactions. Dec. 7 Received $3,700 cash from customers in payment of account (no discount allowed). Purchased merchandise on account from Vance Co. $11,900, terms 1/10,n/30. 12 17 Sold merchandise on account $15,900, terms 2/10,n/30. The cost of the merchandise sold was $9,000. 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 $2,600 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. Date Account Titles and Explanation Debit Credit Dec. 7 Cash 3500 Accounts Receivable 350 Dec 12 Inventory 12000 Accounts Payable 1200 Dec. 17 > Accounts Receivable 15600 Sales Revenue 1560 (To record sales) Dec. 17 Cost of Goods Sold 9700 Inventory 970 (To record cost of goods sold) Dec. 197 Salaries and Wages Expense 2300 Cash 230 Dec. 22 Accounts Payable 12000 Inventory 12 Cash 118 Dec. 26 Cash 15288 Sales Discounts 312 Accounts Receivable 1560 Dec. 31 Cash 2600