I need help with the red squares on the t-ledger. this is my third time asking so hopefully third time is the charm. thanks
Comprehensive Problem 5 (Part Level Submission) On December 1, 2017, Prosen Distributing Company had the following account balances Cash Accounts Receivable Inventory Supplies Equipment Debit $7,000 4,800 11,600 1,500 23,100 $48,000 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,310 4,900 1,100 30,000 9,690 $48,000 During December, the company completed the following summary transactions. Dec. 6 Paid $1,750 for salaries and wages due employees, of which $650 is for December and $1,100 is for November salaries and wages payable. 8 Received $2,000 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,800. The cost of the merchandise sold was $4,200. 13 Purchased merchandise on account from Maglio Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,800. 18 Sold merchandise on account $12,900, terms 3/10, n/30. The cost of the merchandise sold was $8,200. 20 Paid salaries and wages $1,900. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Debit Credit Date Account Titles and Explanation Dec. 61Salaries and Wages Expen TSalaries and Wages Payab Cash 1,750 Cash T Accounts Receivable 2,000 FiCash 6,800 T Sales Revenue (To record sales revenue.) Cost of Goods Sold Dec. 10 4,200 T Inventory (To record cost of goods sold.) Inventory T Accounts Payable 9,000 TSupplies Cash 1,800 T Dec. 18 TAccounts Receivable 12.900 12,900 T Sales Revenue (To record the sales revenue.) Cost of Goods Sold 1 Inventory (To record cost of goods sold.) 8,200 (To record cost of goods sold.) Dec. 20 - TSalaries and Wages Expen 1,900 T T Cash T 1,900 | Dec. 23 - Accounts Payable 9,000|| T Inventory 180 T Cash 8,820 Dec. 27 TCash TT 12,513 T Sales Discounts 387 | Accounts Receivable 12,900 SHOW LIST OF ACCOUNTS Cash 7,000 T 12/6 1,750 2,000 II 12/15 II 1,800 6,800 T 12/20 T 1,900 12,513 T 12/23 T 8,820 14,043 T Accounts Receivable 4,800 || 12/8 2,000 12,900 T 12/27 IT 12,900 Bal. 2,800 Inventory 112 IT 11,600 || 12/10 IT 4,200 9,000 || 12/18 IT 8,200 180 1,500 | 1,800 M 23,100 112/31 Bal. 23 Accumulated Depreciation Equipment T 12/1 Bal. 2310 I 12/31 Bal. | 2,310 Accounts Payable Accumulated Depreciation Equipment 12/1 Bal. 2,310 2310 IT 12/31 Bal. Accounts Payable 9.000 IT 127 12/1 Bal. IT 4,900 12/13 9,000 4,900 IT 12/31 Bal. TT Salaries and Wages Payable Il 1,100 1,100 12/1 Bal. Common Stock Il 12/1 Bal. 30,000 12/31 Bal. 30,000 Retained Earnings 12/1 Bal. 9,690 12/31 Bal 4 9,690 Sales Revenue Il 12/10 6,800 xxx T 12/18 12,900 12/31 Bal. 19,700 Sales Discount 387 ||| al. 387
