Distributing Company had the following account balances Cash Accounts Receivable Inventory Supplies Equipment Debit $7,600 4,700 11,500 1.400 25,300 $50,500 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Owner's Capital Credit $2,530 4,600 1,200 42.170 $50,500 During December, the company completed the following summary transactions Dec Paid $2,100 for salaries and wages due employees, of which $900 is for December and $1,200 is for November salaries 6 and wages payable 8 Received $2.000 cash from customers in payment of accountino discount allowed) 10 Sold merchandise for cash $6,700. The cost of the merchandise sold was $4.200 13 Purchased merchandise on account from Boehm Co. $9.500, terms 2/10, 1/30 15 Purchased supplies for cash $1,700 18 Sold merchandise on account $12.500,terms 3/10, 130. The cost of the merchandise sold was $8.300. 20 Paldiaries and wages $1.600 23 Paid Boehm Co in full les discount 27 Received collections in less discounts, from customers billed on December 1 MacBook A I 2 $ 4 3 5 & 7 6 8 9 1 0 W E R Y U I O S D F G H J C V B YO # A 4 3 % 5 4 & 7 6 * 8 9 0 ON E R T Y U I O I D F G H J J K L C V V B B N M Owner's Capital Sales Revenue Sales Discounts Cost of Goods Sold MacBook Air SO 59 40 # 3 2 $ 4 % 5 & 7 6 00 * 9 0 W E R T Y U | o S D F G H J K L X C V B