Adjustment data: 1. 2. Accrued salaries and wages payable $500. Depreciation $220 per month. Supplies on hand $1.500. 3. Journalize adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. 2. 3. Debit 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 During December, the company completed the following summary transactions. Dec. 6 8 10 13 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. Purchased 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. 15 18 20 23 27