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journalize the December transactions using a prepetual inventory system. Cash Accounts Receivable Inventory Supplies Equipment...

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Accounting

journalize the December transactions using a prepetual inventory system. Cash
Accounts Receivable
Inventory
Supplies
Equipment
Debit
$7,200
5,300
12,500
1,300
22,000
$48,300
Accumulated Depreciation -Equipment
Accounts Payable
Salaries and Wages Payable
Owner's Capital
Credit
$2,200
4.800
1.000
40.300
$48,300
During December, the company completed the following summary transactions.
Dec. 6
8
10
13
15
18
20
23
27
Paid $1,700 for salaries and wages due employees, of which $700 is for December and $1,000 is for November salaries and wages payable.
Received $1,800 cash from customers in payment of account (no discount allowed).
Sold merchandise for cash $6,600. The cost of the merchandise sold was $4,200.
Purchased merchandise on account from Boehm Co. $8,500, terms 2/10, n/30.
Purchased supplies for cash $1,700.
Sold merchandise on account $12,700, terms 3/10, n/30. The cost of the merchandise sold was $8,300.
Paid salaries and wages $1,600.
Paid Boehm Co. in full, less discount.
Received collections in full, less discounts, from customers billed on December 18.

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