On December 1, 2017, Prosen Distributing Company had the following account balances. Please complete part C. I'd appreciate if you can follow the format. Thank you, will give great review with 2 accounts if done properly.

(Part Level Submission) Comprehensive Problem On December 2017, Prosen Distributing Company had the following account balances. Debit Credit $7,000 Accumulated Depreciation-Equipment Cash $2,310 Accounts Receivable 4,800 Accounts Pavable 4,900 Salaries and Wages Payable 1,100 Inventory 11,600 Supplies 1,500 Common Stock 30,000 Retained Earnings Equipment 23,100 9,690 $48,000 $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. Received $2,000 cash from customers in payment of account (no discount allowed). 8 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. Purchased supplies for cash $1,800. 15 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. Received collections in full, less discounts, from customers billed on December 18. 27 Account Titles and Explanation Date Debit Credit Dec. 6 Salaries and Wages Expen 650 Salaries and Wages Payab 1,100 1,750 Cash Dec. 8 2,000 Cash Accounts Receivable 2,000 Dec. 10 6,800 Cash Sales Revenue 6,800 (To record sales revenue.) Dec. 10 Cost of Goods Sold 4,200 Inventory 4,200 (To record cost of goods sold.) Dec. 13 Inventory 9,000 Accounts Payable 9,000 Dec. 15 Supplies 1,800 Cash 1,800 Dec. 18 Accounts Receivable 12,900 Sales Revenue 12,900 (To record the sales revenue.) Dec. 18 Cost of ds Sold 8,200 Inventory 8,200 (To record cost of goods sold.) Dec. 20 Salaries and Wages Expen 1,900 1,900 Cash Dec. 23 Accounts Payable 9,000 Inventory 180 8,820 Cash Dec. 27 12,513 Cash Sales Discounts 387 12,900 Accounts Receivable SHOW LIST OF ACCOUN ITS (b) Your answer is correct. Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries i. Cash 12/1 Bal. 12/6 7,000 1,750 12/8 12/15 2,000 1,800 12/10 12/20 6,800 1,900 12/27 12,513 12/23 8,820 12/31 Bal, 14,043 Accounts Receivable .. Accounts Receivable 12/1 Bal 12/8 2,000 4,800 12/18 12/27 12,900 12,900 12/31 Bal. 2,800 Inventory 12/1 Bal 12/10 11,600 4,200 12/13 12/18 9,000 8,200 12/23 180 12/31 Bal. 8,020 Supplies 12/1 Bal 1,500 12/15 1,800 Equipment 12/1 Bal 23,100 12/31 Bal. 23,100 Accumulated Depreciation-Equipment 12/1 Bal 2,310 Accounts Payable 12/1 Bal 12/23 9,000 4,900 12/13 9,000 12/31 Bal. 4,900 Salaries and Wages Payable 1,100 12/1 Bal. 12/6 1,100 Common Stock 12/1 Bal 30,000 12/31 Bal. 30,000 Retained Earnings 12/1 Bal. 9,690 12/31 Bal. 9,690 Sales Revenue 12/10 6,800 12/18 12,900 12/31 Bal. 19,700 Sales Discount 12/27 387 12/31 Bal. 387 Cost of Goods Sold 12/10 4,200 12/18 8,200 12/31 Bal. 12,400 Salaries and Wages Expense 12/6 650 12/20 1,900 4 4h Adjustment data Accrued salaries and wages payable $500 1. Depreciation $210 per month. 2. 3. Supplies on hand $1,500. Journalize adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent m Account Titles and Explanation Debit Credit No. Date 1. 2. 3. Post adjusting entries. (Post entries in the order of journal entries presented above.) Cash 7,000 12/6 2,000 12/15 6,800 12/20 12,513 12/23 12/1 Bal 1,750 12/8 1,800 12/10 1,900 12/27 8,820 12/31 Bal 14,043 Accounts Receivable 4,800 12/8 12,900 12/27 12/1 Bal 2,000 12/18 12,900 12/31 Bal. 2,800 Inventory 11,600 12/10 9,000 12/18 12/23 12/1 Bal 4,200 12/13 8,200 180 12/31 Bal 8,020 Sunnlioc. Dal Sales Revenue 12/10 6,800 12/18 12,900 12/31 Bal 19,700 Sales Discount 12/27 387 12/31 Bal 387 Cost of Goods Sold 12/10 4,200 12/18 8,200 12/31 Bal 12,400 Depreciation Expense Salaries and Wages Expense 12/6 650 1,900 12/20 Supplies Expense