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On December 1, 2020, Bramble Corp. had the following account balances Debit Credit $2,530 4,500 1,100 30,000 11,970 $50,100 Cash Accounts Receivable Inventory Supplies Equipment
On December 1, 2020, Bramble Corp. had the following account balances Debit Credit $2,530 4,500 1,100 30,000 11,970 $50,100 Cash Accounts Receivable Inventory Supplies Equipment $7,000 Accumulated Depreciation-Equipment 4,900 Accounts Payable 11,600 Salaries and Wages Payable 1,300 Common Stock 25,300 Retained Earnings $50,100 During December, the company completed the following summary transactions Dec. 6 8 10 13 15 18 20 23 27 Paid $1,800 for salaries and wages due employees, of which $700 is for December and $1,100 is for November salaries and wages payable Received $1,800 cash from customers in payment of account (no discount allowed) Sold merchandise for cash $6,800. The cost of the merchandise sold was $3,900 Purchased merchandise on account from Maglio Co. $8,800, terms 2/10, n/30 Purchased supplies for cash $1,800 Sold merchandise on account $12,100, 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 automatica y dented hen amount sente ed Do not ndent manua Date Account Titles and Explanation Debit Credit 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
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