Comprehensive Accounting Cycle Review 6
On December 1, 2017, Blue Spruce Corp. had the account balances
shown below.
Debits
Credits
Cash
$4,810
Accumulated Depreciation—Equipment
$1,550
Accounts Receivable
3,740
Accounts Payable
3,150
Inventory (3,300 x $0.60)
1,980
Common Stock
9,900
Equipment
22,700
Retained Earnings
18,630
$33,230
$33,230
The following transactions occurred during December.
Dec. 3
Purchased 4,300 units of inventory on account at a cost of
$0.70 per unit.
5
Sold 4,700 units of inventory on account for $0.80 per unit....