20 !! Wiew Policies Current Attempt in Progress On December 1, 2022, Whispering Winds Corp. had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Debit $7,400 4,900 12,100 1,200 22,000 $47,600 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,200 4,500 1,000 29,000 10.900 $47,600 During December, the company completed the following summary transactions. Dec. 6 8 10 13 15 18 20 Paid $1,600 for salaries and wages due employees, of which $600 is for December and $1,000 is for November salaries and wages payable. Received $1,800 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,200. The cost of the merchandise sold was $4,200. Purchased merchandise on account from Hecht Co. $9,100, terms 2/10,n/30. Purchased supplies for cash $2,000. Sold merchandise on account $12,300, terms 3/10,n/30. The cost of the merchandise sold was $8,100. Paid salaries wages $1,800. Paid Hecht Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 18. 23 27 Adjustment data: 1. 2. 3. Accrued salaries and wages payable $800. Depreciation $200 per month Supplies on hand $1,500. United (62) Post the adjusting entries. (Post entries in the order of journal entries presented above. 1.600 12/1 Bal 12/8 12/10 12/27 12/31 Bal. Cash 7.400 12/6 1,800 12/15 6,200 12/20 11,931 | 12/23 13,013 2,000 1,800 8,918 12/1 Bal. 12/18 12/31 Bal Accounts Receivable 4.900 12/8 12,300 12/27 3,100 1,800 12,300 12/1 Bal 12/13 Inventory 12,100 12/10 9,100 12/18 12/23 8,718 4,200 8,100 182 12/31 Bal Supplies 1.200 12/1 Bal 12/15 2,000 12/1 Bal 12/31 Bal Equipment 22.000 22,000 Question 1 of 1 9.38/25 Accumulated Depreciation-Equipment 12/1 Bal 2.200 12/23 Accounts Payable 9.100 12/1 Bal. 12/13 12/31 Bal 4,500 9.100 4,500 12/6 Salaries and Wages Payable 1,000 12/1 Bal 1,000 Common Stock 12/1 Bal 12/31 Bal 29,000 29.000 Retained Earnings 12/1 Bal. 12/31 Bal 10.900 10.900 Sales Revenue 12/10 12/18 12/31 Bal 6.200 12,300 18.500 12/27 12/31 Sales Discounts 369 369 12/10 12/18 Cost of Goods Sold 4.200 3.100 12.300 Depreciation Expense 00 tv Depreciation Expense Salaries and Wages Expense 600 1216 12/20 1.800 Supplies Expense e Textbook and Media Ust of Accounts Save for Later Attempts: unlimited Submit Answer Date Accounts and explanations Debits Credits Dec 6 Salaries and Wages expenses 600 Salaries and wages payables 1,000 Cash 1,800 Doc & Cash Account receivables 1.800 6,200 6.200 Dec 10 Cash Sales Revenue To record sales revenue Cost of good sold Inventory To record cost of good sold 4,200 4.200 Dec 13 9.100 Inventory Account payables - Hecht Co. Dec 15 2,000 Supplies Cash 2.000 Dec 18 12.300 Account receivables 12.300 Sales Revenue To record sales revenue Cost of good sold 8.100 Inventory To record cost of good sold 8.100 Dec 20 salaries and wages expenses 1,800 Cash 1.800 9.100 Dec Account Payables-Hecht 23 Co. Inventory (59,100*29) Cash 182 8,918 Dec 27 Cash 11931 Sales discount($12,300*39) 369 Accounts receivable 12.300 Dec 31 Adjusting Entry Salaries and wages expenses 800 Salaries and wages payables Dec 200 Depreciation expenses Accumulated Depreciation Equipment 200 1,700 Doe Supplies expenses 31 ($1,200+2,000 - $1,500) Supplies 1.700 800 Journal Number Date Account title Debit Credit 1 Dec. 31 Salaries and wages expense Salaries and wages payable 800 2 Dec. 31 Depreciation expense 200 Accumulated depreciation - Equipment 200 3 Dec. 31 Supplies expense 1,700 Supplies 1,700 Supplies expense = Beginning supplies + Supplies purchased - Ending supplies = 1,200 + 2,000 - 1,500 = $1,700