RE COMPREHENSIVE ACCOUNTING CYCLE ACR6 On December 1, 2017, Waylon Company had the account balances shown below. Credit Cash Accounts Receivable Inventory Equipment Debit $ - 3,900 Accounts Payable 1.800Common Stock 21,000 Retained Earnings $31,500 $ 4,800 Accumulated Depreciation Equipment $1,500 3,000 10,000 17,000 $31.500 (3.000 x 50.60) The following transactions occurred during December Dec 1 Purchased 4.000 units of inventory on account at a cost of $0.72 per unit. 5 Sold 4 400 units of inventory on account for $0.90 per unit. (It sold 3.000 of the $0.00 units and 1.400 of the $0.72.). 7 Granted the December 5 customer $180 credit for 200 units of inventory ro. turned costing $144. These units were returned to inventory 17 Purchased 2,200 units of inventory for cash at $0.80 each. 22 Sold 2.000 units of inventory on account for $0.95 per unit. (It sold 2,000 of the 50.72 units) 332