Selected balance sheet information for the Wolf Company at November 30, and December 31, 2021, is presented below. The company uses the perpetual inventory system and all sales to customers are made on credit. Accounts receivable Prepaid insurance Inventory Accounts payable Salarien payable Nov. 30 Debita Credits 10,700 5,700 7,700 12,700 5,700 Dec. 31 Debits Credits 3,700 8,200 6,700 15,700 3,700 The following cash flow information also is available: a. Cash collected from credit customers, $87,000. b. Cash paid for insurance, $5,700. c. Cash paid to suppliers of inventory, $67,000 (the entire accounts payable amounts relate to inventory purchases). d. Cash paid to employees for salaries, $10,700 Required: 1. Determine the following for the month of December 2. Prepare summary Journal entries to record the month's sales and cost of those sales. Complete this question by entering your answers in the tabs below. Required: Required 2 Determine the following for the month of December: a Sales revenue b. Cost of goods sold c. Insurance expense d. Salaries expense 2. Prepare summary Journal entries to record the month's sales and cost of those sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare summary Journal entries to record the month's sales and cost of those sales. (If no entry is required for a particular event, sele "No journal entry required in the first account field) 3:11 View transaction list Journal entry worksheet Record the sales for the month of December Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal