On December 1, 2025, Ivanhoe Distributing Company had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Dec. 6 8 10 13 Debit 15 $6,500 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 3,900 11,300 1,200 During December, the company completed the following summary transactions. 22,000 $44,900 Common Stock Retained Earnings Credit $2,200 3,800 $1,000 15,000 22,900 $44,900 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). Sold merchandise for cash $5,600. The cost of the merchandise sold was $3,700. Purchased merchandise on account from Hecht Co. $6,600, terms 2/10, n/30. Purchased supplies for cash $2,000.

On December 1, 2025, Ivanhoe Distributing Company had the following account balances. 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. B 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. (a) Journalize the December transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (To record the sales revenue.) (To record cost of goods sold.) (To record the sales revenue.) (To record cost of goods sold.)