27.000 Accounts Receivable 5,000 Accounts Payable 4,900 Inventory 12,400 Salaries and Wages Payable 1,000 Supplies 1.200 Common Stock 15,000 Equipment 22.000 Retained Earnings $48,200 25,100) $48,200 During December, the company completed the following summary transactions. Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. Dec. 6 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,700. The cost of the merchandise sold was $4,800. 13 Purchased merchandise on account from Hecht Co. $8,800, terms 2/10, n/30. 15 Purchased supplies for cash $2,000 18 Sold merchandise on account $13,200, terms 3/10, n/30. The cost of the merchandise sold was $8,700. 20 Paid salaries $2.400 23 Paid Hecht Co, in full, less discount 27 Received collections in full, less discounts, from customers billed on December 18