Question 2 On December 1, 2017, Blossom Company had the account balances shown below Debits Cash Accounts Receivable Inventory (2,800 x $0.60 Equipment Credits $4,510 Accumulated Depreciation-Equipment $1,420 3,170 11,000 15,800 $31,390 3,600 Accounts Payable 1,680 Common Stock 21,600 Retained Earnings $31,390 The following transactions occurred during December. Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.79 per unit. 5 Sold 4,200 units of inventory on account for $0.90 per unit. (It sold 2,800 of the $0.60 units and 1,400 of the $0.79.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $150. These units were returned to inventory 17 Purchased 2,100 units of inventory for cash at $0.80 each 22 Sold 1,900 units of inventory on account for $0.99 per unit. (It sold 1,900 of the $0.79 units.) Adjustment data 1. Accrued salaries and wages payable $380 2. Depreciation on equipment $210 per month. 3. Income tax expense was $210, to be paid next year