-11 Uepit Credit Cash Accounts Receivable Inventory Supplies Equipment $7.500 5,500 11,800 1,400 24.200 $50,400 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings $2,420 4,500 1.100 30,000 12.380 $50,400 6 8 10 During December, the company completed the following summary transactions. Dec Paid $1,700 for salaries and wages due employees, of which $600 is for December and $1,100 is for November salaries and wages payable. Received $1.800 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,400. The cost of the merchandise sold was $3,800. Purchased merchandise on account from Maglio Co. $8,700, terms 2/10,n/30. Purchabled supplies for cash $1,800. Sold merchandise on account $12,400, terms 3/10, 1/30. The cost of the merchandise sold was $8,000. Paid salaries and wages $1.700. Paid Maglio Co. in full less discount Received collections in full, less discounts from customers billed on December 18. 13 15 18 20 23 27 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.) Cash 4 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment QueSLUIT I UI Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Retained Earnings Sales Revenue Sales Discount Cost of Goods Sold Sales Discount Cost of Goods Sold Salaries and Wages Expense List of Accounts