ESOURCES cle Project ive Cycle Adjustment data: 1. ts by Study Accrued salaries payable $700. 2. Depreciation $200 per month. 3. Supplies on hand $1,500. 4. Income tax due and unpaid at December 31 is $100. Journalize the adjusting entries. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3. RCES oject Comprehensive Accounting Cycle Review 5-01 On December 1, 2022, Sheridan Distributing Company had the following account balances. Study Cash Accounts Receivable Inventory Supplies Equipment Debit $7,900 Accumulated Deprecation-Equipment 5,300 Accounts Payable 12,700 Salaries and Wages Payable 1,200 Common Stock 22,000 Retained Earnings $49,100 Credit $2,200 5,200 1,000 15,000 25,700 $49,100 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 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $7,000. The cost of the merchandise sold was $5,100. 13 Purchased merchandise on account from Hecht Co. $9,400, terms 2/10, 1/30. 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $14,100, terms 3/10, n/30. The cost of the merchandise sold was $9,300. 20 Paid salaries $2,700. 23 Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18