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How will I figure out the amounts for Dec.23 and Dec.27th? On December 1, 2019, Blossom Company had the following account balances. Cash Accounts Receivable
How will I figure out the amounts for Dec.23 and Dec.27th?
On December 1, 2019, Blossom Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Debit Credit $7,600 Accumulated Depreciation-Equipment $2,420 4,800 Accounts Payable 5,000 11,500 Salaries and Wages Payable 1,000 1,300 Common Stock 30,000 24,200 Retained Earnings 10,980 $49,400 $49,400 During December, the company completed the following summary transactions: Dec. Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages 6 payable. 8 Received $1,800 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,800. 13 Purchased merchandise on account from Maglio Co. $8,600, terms 2/10,n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,100. 20 Paid salaries and wages $1,500. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. 11:18 AM 6/2/2020 0 Debit Credit Date Account Titles and Explanation Dec. 6 Salaries and Wages Expense 800 Salaries and Wages Payable 1000 cash 1800 Dec 8 Cash 1800 Accounts Receivable 1800 Dec 10 Cash 6500 Sales Revenue 6500 (To record sales revenue.) Dec. 10 Cost of Goods Sold 3800 Inventory 3800 (To record cost of goods sold.) Dec 13 Inventory 8600 Accounts Payable 8600 Dec 15 Supplies 1600 1600 Cash 12000 Dec 18 Accounts Receivable Sales Revenue 12000 (To record the sales revenue.) 8100 Dec. 18 Cost of Goods Sold 8100 Inventory (To record cost of goods sold.) Salaries and Wages Expense 1500 Dec. 20 Bi E Accounts Payable 8600 Dec 15 Supplies 1600 Cash 1600 Dec 18 Accounts Receivable 12000 Sales Revenue 12000 (To record the sales revenue.) 8100 Cost of Goods Sold Dec 18 8100 Inventory (To record cost of goods sold.) 1500 Salaries and Wages Expense Dec 20 1500 Cash 8100 Dec 23 Accounts Payable Inventory Cash Dec. 27 Cash Sales Discounts Accounts Receivable e Textbook and Media eTextbook 1 e Textbook 2 & RI - 10
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