View Policies Current Attempt in Progress On December 1, 2022 Blossom Company had the following account balances. Debits Credits Cash $18,100 Accumulated Depreciation-Equipment $3,270 Notes Receivable 2,120 Accounts Payable 6,030 Accounts Receivable 7,500 Common Stock 48,700 Inventory 15,500 Retained Earnings 18,530 Prepaid Insurance 1,910 Equipment 31,400 $76,530 $76,530 Dec. During December, the company completed the following transactions. 7 Received $3,630 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Green Co. $12,100, terms 1/10, n/30. 17 Sold merchandise on account $16,700, terms 2/10, n/30. The cost of the merchandise sold was $10,500. 19 Paid salaries $2,180. 22 Paid Green Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received $2,740 cash from customers in payment of account (no discount allowed).