Question 1 of 30 Debit Credit Cash $ 18,700 $3,000 2.300 6,000 Notes Receivable Accounts Receivable Inventory Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings 7,700 55,000 16,900 10,600 Prepald Insurance 1,600 $74,600 Equipment 27.400 $ 74,600 During December, the company completed the following transactions Dec. 7 12 17 19 Received $ 3,700 cash from customers in payment of account (no discount allowed) Purchased merchandise on account from Vance Co. $ 11,000, terms 1/10, 1/30. Sold merchandise on account $ 16,300, terms 2/10, 1/30. The cost of the merchandise sold was Paid salaries $ 2.200 Paid Vance Co. in full less discount Received collections in full, less discounts, from customers bilied on December 17. Received $ 2,600 cash from customers in payment of account (no discount allowed). 22 26 31 Adjustment data: 1. Depreciation was $ 210 per month Insurance of $ 400 expired in December 2. Attempts: 2 of 2 us b (b) Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented in the previous part) Cash 0