Debit

Credit

Cash$7,400Accumulated DepreciationEquipment$2,250Accounts Receivable5,600Accounts Payable4,500Inventory11,500Salaries and Wages Payable1,000Supplies1,200Common Stock15,100Equipment22,500Retained Earnings25,350$48,200$48,200

During December, the company completed the following summary transactions.

Dec. 6Paid $1,900 for salaries due employees, of which $900 is for December and $1,000 is for November salaries payable.8Received $1,800 cash from customers in payment of account (no discount allowed).10Sold merchandise for cash $6,500. The cost of the merchandise sold was $4,200.13Purchased merchandise on account from Hecht Co. $9,200, terms 2/10, n/30.15Purchased supplies for cash $1,700.18Sold merchandise on account $12,600, terms 3/10, n/30. The cost of the merchandise sold was $8,200.20Paid salaries $1,800.23Paid Hecht Co. in full, less discount.27Received collections in full, less discounts, from customers billed on December 18.

e)

display an adjusted trial balance.

e1)

display an income statement.

e2)

display a retained earnings statement for December

(e3)

display a classified balance sheet at December 31.(List current assets in order of liquidity.)