On December 1, 2022, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,900 $2,200 Accumulated Depreciation-Equipment Accounts Payable Accounts Receivable 5,300 5,200 Inventory 12,700 Salaries and Wages Payable 1.000 Supplies 1,200 Common Stock 15,000 Equipment 22,000 Retained Earnings 25,700 $49,100 $49,100 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. Received $1,900 cash from customers in payment of account (no discount allowed). 00 10 Sold merchandise for cash $7,000. The cost of the merchandise sold was $5,100. 13 Purchased merchandise on account from Hecht Co. $9,400, terms 2/10,n/30. 15 18 Purchased supplies for cash $2,000. Sold merchandise on account $14,100, terms 3/10,n/30. The cost of the merchandise sold was $9,300. Paid salaries $2,700. 20 23 Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Date Account Titles and Explanation Debit Credit Dec. 6 V Accounts Payable 14965 Dec. 8 Dec. 10 (To record the sales revenue.) (To record cost of goods sold.) Dec. 13 111 dOdIII II DOOM Dec. 15 Dec. 18 (To record the sales revenue.) (To record cost of goods sold.) Dec. 20