On December 1, 2017, Prosen Distributing Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Debit $7,300 4,700 12,100 1,400 23,100 $48,600 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,310 4,700 1,200 30,000 10,390 $48,600 During December, the company completed the following summary transactions. Dec. 6 8 10 13 15 18 20 23 27 Paid $2,000 for salaries and wages due employees, of which $800 is for December and $1,200 is for November salaries and wages payable. Received $1,800 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,500. The cost of the merchandise sold was $4,000. Purchased merchandise on account from Maglio Co. $8,600, terms 2/10, n/30. Purchased supplies for cash $1,700. Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 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. Journalize the December transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 6 (To record sales revenue.) (To record cost of goods sold.) (To record the sales revenue.) (To record cost of goods sold.) Dec. 27 Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Advertising Expense Buildings Cash Casualty Loss from Vandalism Common Stock Cost of Goods Sold Depreciation Expense Dividends Dividend Revenue Equipment Freight-In Freight-Out Gain on Disposal of Plant Assets Income Summary Insurance Expense Interest Expense Interest Payable Interest Revenue Inventory Land Loss on Disposal of Plant Assets Maintenance and Repairs Expense Mortgage Payable Net Sales No Entry Notes Payable Operating Expenses Prepaid Insurance Property Tax Expense Property Taxes Payable Purchase Discounts Purchase Returns and Allowances Purchases Rent Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Commissions Expense Sales Commissions Payable Sales Discounts Sales Returns and Allowances Sales Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Utilities Payable