On December 1, 2017, Prosen Distributing Company had the following account balances. $2,420 $7,600 Accumulated Depreciation-Equipment Cash 5,000 1,000 Accounts Receivable 4,800 Accounts Payable 11,500 Salaries and Wages Payable 30,000 Common Stock 1,300 24,200 Retained Earnings 10.980 Equipment $49,400 $49,400 During December, the company completed the following summary transactions. Dec. 5 Paid $1.80o for salaries and vages due employees, of which s800 is for December and $1.000 is for November salaries and wages payablie. Received $1,800 cash from customers in payment o 10 8 account (no discount allowed). Sold merchandise for cash $6,500. The cost of the merchandise sold was $3.80o. 13 Purchased merchandise on account from Maglio Co. $8,600, terms 2/10, n/30. 15 Purchased supplies for cash $1,600 18 Sold merchandise on account $12.000, terms 3/10, /30. The cost of the merchandise sold was $8, 100. 20 Paid salaries and wages $1.500. Paid Maglio Co. in full, less discount. 23 27 Received collections in full, less discounts. from customers billed on December 19. y (a) 2l Your answer is partially correct. Try again. the December transactions using a perpetual inventory system. (Credit account titles are automatically indented swhen amount is entered Account Titles and Explanation Date Debit Credit Dec: &Salaries and iwages Peyab 1000 800 Cash 1300 Acounts Recelvable : a00