Record the December transactions. The company uses the FIFO cost formula. (List all debit entries before credit entries Credit occount titles are automatically indented when the amount is entered. Do not indent monuolly. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Round answers to 0 decimal ploces, eg 5,275. Record joumal entries in the order presented in the problem, Prepare T accounts and enter the opening balances. (Round answers to 0 decimal places, e.g. 5.275.) ARC 6-1 (ALT) Part A: Accounting Cycle and Ratios Question 1 of 1 150 Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Question 1 of 1 150 (To record cost of merchandise sold) sec18 Salaries Expense 133390 Cash 133390 Jec21 Accounts Receivable 4317390 Sales 4317390 3ec. 24 Advertising Expense 35120 Cash 35120 (To record sale) SUPPORT sec27 Inventory 1553310 ARC 6-1 (ALT) Part A: Accounting Cycle and Ratios Question 1 of 1 Salaries Expense Travel Expense Utilities Expense Interest Expense ARC 6-1 (ALT) Part A: Accounting Cycle and Ratios Question 1 of 1 (To record sale) sec27 Inventory 1553310 Cash 1553310 (To record cost of merchandise sold) Question 1 of 1 Sales Return and Allowances Sales Discounts Cost of Goods Sold Advertising Expense Prepare T accounts and enter the opening balances. (Round answers to 0 decimal places, e.g. 5.275.) Cullumber reported the following transactions for the month of December. The company uses a perpetual inventory system and owned 10,000 units of inventory on December 1 . 1 Received $290,890 on account from a major customer. Cullumber reported the following transactions for the month of December. The company uses a perpetual inventory system and owned 10,000 units of inventory on December 1. Dec. 1 Received $290,890 on account from a major customer. 1 Paid $13,320 in rent for the month of December. 4 Paid $369,610 owing to a supplier from a purchase made in November. 6 Sold 3,800 units of merchandise to a Canadian furniture retailer for $1,949,400 on credit, FOB shipping point. 15 Purchased 5,560 units of merchandise from a supplier at a cost of $284 per unit on credit, FOB shipping point. 18 Paid salaries of $133,390. 21 Sold 8,010 units of merchandise for $4,317,390 on account, FOB shipping point. 24 Paid $35,120 for advertising expenses incurred in the month. 27. Purchased 5,230 units of inventory from a supplier at a cost of $297 per unit on credit, FOB shipping point. Question 1 of 1 .150 Accumulated depreciation-equipment Accounts payable Deferred revenue Bank loan payable-non-current Common shares Retained earnings Dividends declared Sales Cost of goods sold Advertising expense Freight out Office expense $35,215 1,226,420 104.950 1,246,000 610,100 2,048,665 120,190 15,710,500 9,813,160 426,320 1,005,170 70,710 Search Question 1 of 1 150 Common Shares Retained Earnings Dividends Declared Sales ARC 6-1 (ALT) Part A: Accounting Cycie and Ratios Question 1 of 1 -150 sec4 Accounts Payable 369510 Cast 369610 xec. 8 Accounts Recelvable 1949400 Soles 1949400 (To record sale) sec15 finventory 1579040 Accounts Payable 1579040 (To record cost of merchandise sold) SUPPORT Sec18 Salaries Expense 133390 Cullumber Productions Ltd, is a Vancouver-based furniture manufacturer. The company reported the following information on its tria balance for 11 months of the year ended November 30,2021. ARC 6-1 (ALT) Part A: Accounting Cycle and Ratios Question 1 of 1 150 Depreciation Expense Freight Out Office Expense Rent Expense
