Comprehensive Accounting Cycle Review 5-1 (Part Level Submission) On December 1, 2017, Devine Distributing Company had the following account balances. Debit Credit Cash Accounts Receivable Inventory Supplies Equipment $7,200 4,600 12,000 1,200 22,000 $47,000 Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings $2,200 4,500 1,000 15,000 24,300 $47,000 During December, the company completed the following summary transactions. Dec. 6 8 10 13 15 18 20 23 27 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable. Received $1,900 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. Purchased merchandise on account from Hecht Co. $9,000, terms 2/10, n/30. Purchased supplies for cash $2,000. Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. Paid salaries $1,800. Paid Hecht Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 18. (d) Prepare an adjusted trial balance. DEVINE DISTRIBUTING COMPANY Adjusted Trial Balance Debit