T-Ledger Accounts:

cash, notes receiv., acc rec., invt., prepaid insur., equip., accum deprec.-equip., acc. pay., comm stock, retain earning, sale rev, sale disc, COGS, salary wage

On December 1, 2022, Blossom Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $12,400, terms 1/10,n/30. 17 Sold merchandise on account $16,400, terms 2/10,n/30. The cost of the merchandise sold was $9,600. 19 Paid salaries $2,100. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,800 cash from customers in payment of account (no discount allowed). Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented in the previous part.)