On December 1, 2017, Prosen Distributing Company had the following account balances Debit Credit Cash Accounts Receivable Inventory Supplies Equipment $2,420 4,600 1,200 30,000 10,980 $49,200 $7,000 Accumulated Depreciation-Equipment 4,700 Accounts Payable 11,900 Salaries and Wages Payable 1,400 Common Stock 24,200 Retained Earnings $49,200 During December, the company completed the following summary transactions Dec. 6 8 10 13 15 18 Paid $2,050 for salaries and wages due employees, of which $850 is for December and $1,200 is for November salaries and wages payable Received $2,000 cash from customers in payment of account (no discount allowed) Sold merchandise for cash $6,800. The cost of the merchandise sold was $3,900 Purchased merchandise on account from Maglio Co. $9,400, terms 2/10, n/30 Purchased supplies for cash $1,700 Sold merchandise on account $13,000, terms 3/10, n/30. The cost of the merchandise sold was $8,200 Paid salaries and wages $2,000 Paid Maglio Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 18 20 23 27 Supplies 1,400IT 12/31 1,70 12/1 Bal 1700 12/15 1400 Equipment 24,200 24,200 12/31 Bal. 12/1 Bal 12/31 Bal Accumulated Depreciation-Equipment 12/1 Bal 2,420 12/31 220 12/31 Bal. 2640 Accounts Payable 9,400 12/1 Bal 4,600 9,400 4,600 12/23 12/13 12/31 Bal Salaries and Wages Payable 1,200 12/1 Bal 12/6 1,200 12/31 750 12/31 Bal. # 1950 Common Stock 12/1 Bal 12/31 Bal 30,000 30,000 Retained Earnings 12/1 Bal 12/31 Bal 10,980 10,980 Sales Revenue 12/10 12/18 12/31 Bal 6,800 13,000 19,800 Sales Discount 12/27 12/31 Bal 390 390 Cost of Goods Sold 12/10 12/18 12/31 Bal 3,900 8,200 12,100 Depreciation Expense 12/31 220 12/31 Bal. # 220 Salaries and Wages Expense 85 2,00 750 3600 12/6 12/20 12/31 12/31 Bal. Supplies Expense 12/31 + 1400 12/31 Bal. 1400 PROSEN DISTRIBUTING COMPANY Adjusted Trial Balance December 31, 2017 Debit Credit Cash 21216 s 13672 Accounts Receivable 12800 14800 Inventory Supplies Equipment Salaries and Wages Expern Supplies Expense Purchase Discounts Sales Discounts Depreciation Expense Accumulated Depreciation Accounts Payable Salaries and Wages Payab Net Sales Cost of Goods Sold Common Stock Totals