On December 1,2022 , 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. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,700. The cost of the merchandise sold was $4,800. 13 Purchasedmerchandise on account from Hecht Co. $8,800, terms 2/10,n/30. 15 Purchased supplies for cash $2,000 18 Sold merchandise on account $13,200, terms 3/10,n/30. The cost of the merchandise sold was $8,700. 20 Paid salaries $2,400 23 Paid Hecht Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Cash 12/1Bal. 12/8 12/27 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense