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On December 1, 2022, Matthias Company had the following account balances. Cash Accounts Receivable Inventory Equipment Debit $4,300 4,300 1.740 20,100 $30,440 Accumulated Depreciation-Equipment Accounts

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On December 1, 2022, Matthias Company had the following account balances. Cash Accounts Receivable Inventory Equipment Debit $4,300 4,300 1.740 20,100 $30,440 Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings Credit $1,400 3,100 20,000 5,940 $30,440 *12.900 x $0.60) 5 The following transactions occurred during December. Dec. 3 Purchased 3,900 units of inventory on account at a cost of $0.72 per unit. Sold 4,600 units of inventory on account for $0.90 per unit. (Matthias sold 2,900 of the $0.60 units and 1,700 of the $0.72.) Granted the December 5 customer $180 credit for 200 units of inventory returned costing $144. These units were returned to inventory. 17 Purchased 2,400 units of Inventory for cash at $0.80 each. 22 Sold 1.900 units of inventory on account for $0.95 per unit. (Matthias sold 1,900 of the $0.72 units.) 7 Adjustment data: 1. 2. Accrued salaries payable $430 Depreciation $200 per month Credit Date Account Titles and Explanation Dec. 3 Merchandise Inventory Accounts Payable Debit $280.8 $280.8 $4,140.0 Dec. 5 Accounts Receivable Sales Revenue (To record Sales Revenue) $4,140.0 $2,964.0 Cost of Goods sold Merchandise Inventory (To record cost of goods sold) $2,964.0 $180.0 Dec. 7 Sales Return Accounts Receivable (To record sales return) $180.0 $144.0 Merchandise Inventory Cost of Goods sold (To record cost of goods sold) $144.0 $1,920.0 Dec. 17 Merchandise Inventory Accounts Payable $1,920.0 $1,805.0 Dec. 22 Accounts Receivable Sales Revenue (To record Sales Revenue) $1,805.0 $1,368.0 Cost of Goods sold Merchandise Inventory (To record cost of goods sold) $1,368.0 Credit Adjustment entries Date Account Titles and explanation Dec. 31 Salaries expense Salaries Payable (To record accrued expense) Debit $430 $430 $200 Dec. 31 Depreciation expense Accumulated Depreciation (To record depreciation expense) $200 Cash Inventory Equipment 2022 Dec-01 Account Receivable 2022 Dec-01 4300 Dec-07 Dec 05 4140 Dec-22 1805 2022 Dec-01 4300 180 20100 Dec-os Dec 22 2964 1368 2022 Dec-01 Dec 03 Dec-07 Dec-17 End Bal 1740 260B 144 1920 2200 End Bal 4300 End Bal 10065 End Dal 20100 Accumulated depreciation - Equipment 2022 Dec 01 1400 Dec 31 200 Account Payable 2022 Dec 01 Dec-03 Dec-17 Salaries and Wages Payable 2022 Dec 31 Common Stock 2022 Dec 01 430 20000 3100 2808 1920 7820 End Bal 1600 End Bal 430 End Bal 20000 Retained Earning 2022 Dec 01 Sales Revenue 20221 Dec 05 Dec-221 End Bal Sales Return and allowances 2022 Dec 07 180 5000 Cost of Goods sold 2022 Doc OS 2964 Dec 07 Dec-22 1368 End Bal 4188 6140 1805 144 End Bal 5940 End Bal Salaries and Wages Expense 2022 Dec 31 430 End Bal 430 Depreciation Expense 2022 Dec 31 200 End Bal 200 (c) Prepare an adjusted trial balance as of December 31, 2022. MATTHIAS COMPANY Adjusted Trial Balance December 31, 2022 Debit Credit $ $ e Textbook and Media List of Accounts Attempts unlimited Submit Answer Save for Later

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