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Prepare an adjusted trial balance. On December 1, 2020, Metlock, Inc. had the following account balances. Debit Cash Accounts Receivable Inventory Supplies Equipment $7,500 4,600

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On December 1, 2020, Metlock, Inc. had the following account balances. Debit Cash Accounts Receivable Inventory Supplies Equipment $7,500 4,600 12,400 1,400 26,400 $52,300 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,640 4,900 1,000 30,000 13,760 $52,300 During December, the company completed the following summary transactions. Dec. Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,800. The cost of the merchandise sold was $4,200. 13 Purchased merchandise on account from Maglio Co. $8,900, terms 2/10, n/30. 15 Purchased supplies for cash $1,800. 18 Sold merchandise on account $12,600, terms 3/10, n/30. The cost of the merchandise sold was $8,200. 20 Paid salaries and wages $1,500. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Your answer is partially correct. Try again. Prepare an adjusted trial balance. Metlock, Inc. Adid Trial Base For the Month Ending December 31, 2020 Debit Inventory - ! Accounts Receivable - - Equipment Cost of Goods Sold Salaries and Wages Expense Salaries and Wages Payable Depreciation Expense Accumulated Depreciation Equipment Supplies Supplies Expense Sales Discounts Sales Revenue Accounts Payable Accounts Payable Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 3 used

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