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On December 1,2022, Sunland Distributing Company had the following account balances. During December, the company completed the following summary transactions. Dec. 6 Paid $1,600 for
On December 1,2022, Sunland 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 Recelved $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash \$7,100. The cost of the merchandise sold was $5,200, 13 Purchased merchandise on account from Hecht Co. 59,600, terms 2/10,/30 15 Purchased supplies for cash $2.000. 18 Sold merchandise on account $14,400, terms 3/10,n/30. The cost of the merchandise sold was $9,500. 20 Paid salaries $2.800 23 Paid Hecht Co, in fult, less discount. 27 Recelved collections in full, less discounts, from customers billed on December 18 Enter the December 1 balances in the ledger T-accounts and post the December transactions. (Post entries in the order of journal entries presented above.)
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