On December 1, 2017 Prosen Distributing Company had the following account balances. 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 Paid $1700 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. 10 13 15 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, 1/30. 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 Journalize the Ljecember transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 6 Date Account Titles and Explanation Debit Credit Dec. 6 (To record sales revenue.) (To record cost of goods sold.) (To record cost of goods sold.) (To record the sales revenue.) To record cost of goods sold.) (To record cost of goods sold.) . Dec. 27 List of Accounts