On December 1, 2017, Prosen Distributing Company had the following account balances.

		Debit				Credit
Cash		$7,500		Accumulated DepreciationEquipment		$2,200
Accounts Receivable		5,600		Accounts Payable		4,700
Inventory		12,000		Salaries and Wages Payable		1,100
Supplies		1,300		Common Stock		30,000
Equipment		22,000		Retained Earnings		10,400
		$48,400				$48,400

During December, the company completed the following summary transactions.

Dec. 6		Paid $1,950 for salaries and wages due employees, of which $850 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 $6,300. The cost of the merchandise sold was $4,000.
13		Purchased merchandise on account from Maglio Co. $9,100, terms 2/10, n/30.
15		Purchased supplies for cash $1,700.
18		Sold merchandise on account $12,900, terms 3/10, n/30. The cost of the merchandise sold was $8,000.
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.