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Please enter the December 1st Balances in the ledger T aacounts and post the December tranactions. I also gave information on the journal if needed.
Please enter the December 1st Balances in the ledger T aacounts and post the December tranactions. I also gave information on the journal if needed. Please and Thank you!
On December 1, 2022 Sunland Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,570 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Green Co. $13,400, terms 1/10,n/30. 17 Sold merchandise on account $15,700, terms 2/10,n/30. The cost of the merchandise sold was $10,000. 19 Paid salaries $2,170 22 Paid Green Co, in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Reccived $2,740 cash from customers in payment of account (no discount allowed). Date Account Titles and Explanation Debit Credit Dec. 7 Cash Accounts Receivable Dec12 Inventory Accounts Payable Dec. 17 Accounts Receivable Sales Revenue (To record sales revenue) Dec. 17 Cost of Goods Sold Inventory (To record cost of goods sold) Dec19 Salaries and Wages Expense 2170 (To record cost of goods sold) Dec. 19 Salaries and Wages Expense 2170 Cash Dec. 22 Accounts Payable 13400 \begin{tabular}{|l|l|} \hline Cash & \\ \hline \end{tabular} 13266 Inventory Dec. 26 Cash Sales Discounts 314 Accounts Receivable Dec. 31 Cash Accounts Receivable 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.) Accounts Receivable Inventory Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense eTextbook and Media Step by Step Solution
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