On December 1, 2022, Ivanhoe Distributing Company had the following account balances.

		Debit				Credit
Cash		$6,500		Accumulated DepreciationEquipment		$2,200
Accounts Receivable		3,900		Accounts Payable		3,800
Inventory		11,300		Salaries and Wages Payable		1,000
Supplies		1,200		Common Stock		15,000
Equipment		22,000		Retained Earnings		22,900
		$44,900				$44,900

During December, the company completed the following summary transactions.

Dec. 6		Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable.
8		Received $1,900 cash from customers in payment of account (no discount allowed).
10		Sold merchandise for cash $5,600. The cost of the merchandise sold was $3,700.
13		Purchased merchandise on account from Hecht Co. $6,600, terms 2/10, n/30.
15		Purchased supplies for cash $2,000.
18		Sold merchandise on account $9,900, terms 3/10, n/30. The cost of the merchandise sold was $6,500.
20		Paid salaries $1,300.
23		Paid Hecht Co. in full, less discount.
27		Received collections in full, less discounts, from customers billed on December 18.

Your answer is partially correct. Try again. Enter the December 1 balances in the ledger T-accounts and post the December transactions the order of journal entries presented above.) Cash [12/1 Bal. 16500 12/6 (1600 12/8 11900) 12/15 2000 12/10 (5600 12/20 1300 112/27 19603|12/23 16468 [12/31 Bal. || 3235 Accounts Receivable - Inventory Supplies Equipment [12/1 Bal. 22000 Accumulated Depreciation Equipment U ) Accounts Payable ) :) Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense Your answer is partially correct. Try again. Adjustment data: 1. 2. 3. 4. Accrued salartes payable $800. Depreciation $200 per month Supplies on hand $1,500. Income tax due and unpaid at December 31 is $100. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not Indent manually.) No. Account Titles and Explanation Debit Credit 1 2. 3. Post the above adjusting entries. (Post entries in the order of journal entries presented above. 12/1 Bal. 12/8 12/10 12/27 12/31 Bal. 1,600 2,000 1,300 6,468 12/1 Bal. 12/18 12/31 Bal. Cash 6,500 12/6 1,900 12/15 5,600 12/20 9,603 12/23 12,235 Accounts Receivable 3,900 12/8 9,900 12/27 2,000 Inventory 11,300 12/10 6,600 12/18 12/23 7,568 Supplies 1,900 9,900 3,700 12/1 Bal. 12/13 6,500 132 12/31 Bal. 12/1 Bal. 1,200 || 12/15 2,000 12/1 Bal. 12/31 Bal. Equipment 22,000 22,000 Accumulated Depreciation--Equipment 12/1 Bal. 2,200 U 12/23 3,800 6,600 Accounts Payable 6,600 12/1 Bal. 12/13 12/31 Ball Salaries and Wages Payable 1,000 12/1 Bal. 3,800 12/6 1,000 15,000 15,000 Common Stock 12/1 Bal. 12/31 Bal. Retained Earnings 12/1 Bal. 12/31 Bal. 22,900 22,900 5,600 9,900 15,500 12/27 12/31 Bal. Sales Revenue 12/10 12/18 12/31 Bal. Sales Discounts 297 297 Cost of Goods Sold 3,700 6,500 10,200 Salaries and Wages Expense 600 12/10 12/18 12/31 Bal. 12/6 12/20 1,300 00 Income Taxes Payable Depreciation Expense Supplies Expense Income Tax Expense x Your answer is incorrect. Try again. Prepare an adjusted trial balance. IVANHOE DISTRIBUTING COMPANY Adjusted Trial Balance Debit Credit Your answer partially correct. Try again. Prepare an income statement. IVANHOE DISTRIBUTING COMPANY Income Statement For the Month Ended December 31, 2022 total Revenues Reve le lllll IL Your answer is incorrect. Try again. Prepare a retained earnings statement for December IVANHOE DISTRIBUTING COMPANY Retained things statement X] your answer is incorrect. Try again. Prepare a classified balance sheet at December 31. (List current assets in order of liquidity) IVANHOE DISTRIBUTING COMPANY Balance Sheet Assets DO DOOD Liabilities and Stockholders' Equity 3 DO