Question 1 of 1 2.5 Current Attempt in Progress On December 1, 2022 Crane Company had the following account balances Debits Credits Cash $18,600 Accumulated Depreciation-Equipment $3,310 Notes Receivable 2,190 Accounts Payable 6,210 Accounts Receivable 7,800 Common Stock 47,700 15,700 Retained Earnings 19,520 Inventory Prepaid Insurance 1.750 Equipment 30,700 $76,740 $76,740 During December, the company completed the following transactions. Dec 7 12 17 19 Received $3,730 cash from customers in payment of account (no discount allowed). Purchased merchandise on account from Green Co. $12,600, terms 1/10, 1/30. Sold merchandise on account $16,400, terms 2/10, 1/30. The cost of the merchandise sold was $10.400. Paid salaries $1,800 Paid Green Co. in full, less discount Received collections in full, less discounts, from customers billed on December 17 Received $2,720 cash from customers in payment of account (no discount allowed) 22 26 31 (a) Your answer is correct. Journalize the December transactions. (Assume a perpetual inventory system. (Credit account titles are automatically indented when amount is entered Do not indent manually. Record journal entries in the order presented in the problem.) ate Account Titles and Explanation Debit Credit 7 Cash 3730 Accounts Receivable 3730 12 V Inventory 12600 Accounts Payable 12400 12 V Accounts Receivable 16400 Sales Revenue 16400 (To record sales revenue) 17 V Cost of Goods Sold 10400 Inventory 10400 (To record cost of goods sold) 19 V Salaries and Wages Expense 1800 Cash 1800 22 Accounts Payabile 12600 Inventory DODOJITOTO DO 126 Cash Dec. 26 Cash 16072 Sales Discounts Accounts Receivable 16600 31 V Account Revale Aatatariet) ry To Acumulated Depreciatio- AF Care Bet Sales Series