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Selected balance sheet information for the Wolf Company at November 30 , and December 31,2024 , is presented below, The company uses the perpetual inventory system and all sales to customers are made on credit. The following cash flow information also is available: a. Cash collected from credit customers, $73,000. b. Cash paid for insurance, $4,300. c. Cash paid to suppliers of inventory, $53,000 (the entire accounts payable amounts relate to inventory purchases). d. Cash paid to employees for salaries, $9,300. 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. Determine the following for the month of December: Journal entry worksheet Record the sales for the month of December. Note: Enter debits before credits. Journal entry worksheet Record the cost of sales for the month of December. Note: Enter debits before credits