There are 100,000 shares of common stock outstanding. the following transactions were completed: During December, the last month of the fiscal year, Dec.1 Received $3,000 in advance payment t for December, January, and February rent of warehouse space 3 Purchased $24,500 of merchandise on account, FOB shipping point, terms 2/10,n/30 Paid transportation costs of $475 on the December S purchase 7 Returned $4,000 of the merchandise purchased on December 3 11 Sold merchandise on account, $12,700, FOB destination, 2/15,n/30. The cost of the merchandise sold was $7,600 12 Paid transportation charges of $300 for the merchandise sold on December 11 13 Paid for the purchase of December 3 less the return and the discount. 15 Received payment from customers on account, $8,430, Amount received is net of discount 22 Received payment on account for the sale of December 11, less the discount 23 Purchased supplies on account, n/30 $500 27 Paid sales salaries, $2,300, and office salaries, $1,400 28 Sold merchandise for cash, $16,500. The cost of the merchandise sold was $11,200 30 Paid rent on parking lot for December, $1,000 31 Paid cash for a web page advertisement, $400 INSTRUCTIONS: ROUND ALL AMOUNTS TO THE NEAREST DOLLAR, AS NECESSARY 1. Enter the balances of each of the accounts as of November 30 in the appropriate balance column of a T account (use account names and numbers) or a four-column account. [You are creating the General Ledger.] 2. Journalize (using the General Journal) the transactions for December 3. Post the December journal entries to the General Ledger, computing the year-end balances after all 9