(b) Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented above.) Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discount Cost of Goods Sold Salaries and Wages Expense On December 1, 2017, Prosen Distributing Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Debit $7,300 4,700 12,100 1,400 23,100 $48,500 Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,310 4,700 1,200 30,000 10,390 $48,500 During December, the company completed the following summary transactions. Dec. 6 Paid $2,000 for salaries and wages due employees, of which $800 is for December and $1,200 is for November salaries and wages payable. Received $1,800 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $4,000. 13 Purchased merchandise on account from Maglio Co. $8,600, terms 2/10, n/30. 15 Purchased supplies for cash $1,700. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries and wages $2,000. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Date Account Titles and Explanation Debit Credit Dec. 6 Salaries and Wages Expen Salaries and Wages Payabl Cash 2000 Cash Accounts Receivable 1800 6500 T Sales Revenue (To record sales revenue.) Dec. 10 T Cost of Goods Sold 4000 Inventory (To record cost of goods sold.) Inventory Accounts Payable 8600 Supplies Cash 1700 TAccounts Receivable T 12000 T Sales Revenue (To record the sales revenue.) Cost of Goods Sold MARAMIE AFHOME Dec. 18 8000 Inventory (To record cost of goods sold.) Dec. 20 Salaries and Wages Expen Cash 2000 TDec. 23 Accounts Payable T Inventory 172 Cash 8428 Dec. 27 TSales Discounts Accounts Receivable 12000