On November 30, 2019, Davis Company had the following account balances: Debit Credit Cash $3,090 Accounts Receivable 9,900 Allowance for Doubtful Accounts $100 Inventory 17,750 Supplies 1,400 Land 9,000 Buildings and Equipment 42,000 Accumulated Depreciation 4,200 Accounts Payable Common Stock, no par (2,000 shares) Retained Earnings (1/1/2019) 10,700 20,000 42,400 Dividends 2,000 Sales Revenue 69,700 Cost of Goods Sold 36,860 Salaries Expense 12,500 Advertising Expense 8,100 Other Expenses 4,500 During the month of December, Davis entered into the following transactions: Date Dec. 4 7 Transaction Made cash sales of $3,000; the cost of the inventory sold was $1,800. Purchased $2,400 of inventory on credit. Collected $900 of accounts receivable. 14 18 Sold land for $7,800; the land originally cost $5,000. 20 Made credit sales of $4,000; the cost of the inventory sold was $2,400.