Debit Credit Cash $7,500 Accumulated Depreciation-Equipment $2,200 Accounts Receivable 4.900 Accounts Payable 4,800 Inventory 12,300 Salaries and Wages Payable 1.000 Supplies 1,200 Common Stock 15,000 Equipment 22,000 Retained Earnings 24.900 $47.900 $47,900 During December, the company completed the following summary transactions. Dec 6 Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable B Received $1900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,600. The cost of the merchandise sold was $4,700. 13 Purchased merchandise on account from Hecht Co. $8,600, terms 2/10,n/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $12,900, terms 3/10,n/30. The cost of the merchandise sold was $8,500. 20 Paid salaries $2.300 23 Paid Hecht Co. in full, less discount. 27 Received collections in full less discounts, from customers billed on December 18 Cash 12/1 Bal 7500 1600 128 1900 12/15 2000 1210 5600 1220 2300 12/27 12513 Accounts Receivable 12/1 Eal 4900 12/8 1900 12/18 12900 12/27 12900 17800 12/31 17800 Inventory 12/1 12300 4700 12/13 8600 12/18 12900 12/31 !!! 3300 20900 20900 Supplies 12/1 Bal 1200 12/15 2000 12/31 3200 Equipment 12/1 Bal 22000 12/31 22000 Accumulated Depreciation-Equipment 12/31 2200 12/1 Bal 2200 Accounts Payable 12/23 8800 12/11 4800 12/31 4800 12/13 8600 13400 13400 Salaries and Wages Payable 1276 1000 12/31 1000 Common Stock 12/31 15030 12/1 Bal V 15000 Retained Earnings 12/31 24900 12/1 Bal 24900 Sales Revenue DOO TO Sales Discounts Cost of Goods Sold . OOO MN DOO Salaries and Wages Expense