On December 1, 2022, Divine Distributing Company had the following account balances. Debit Credit Cash $7,200 $2,200 Accounts Receivable 4,600 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 4,500 Inventory 12,000 1,000 Supplies 1,200 Common Stock 30,000 Equipment 22,000 Retained Earnings 9,300 $47,000 $47,000 During December, the company completed the following summary transactions. Dec. 6 8 10 13 Paid $1,600 for salaries and wages due employees, of which $600 is for December and $1,000 is for November salaries and wages payable. Received $1,900 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. Purchased merchandise on account from Hecht Co. $9,000, terms 2/10,n/30. Purchased supplies for cash $2,000. Sold merchandise on account $12,000, terms 3/10,n/30. The cost of the merchandise sold was $8,000. Paid salaries wages $1,800. Paid Hecht Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 18. 15 18 20 23 27 Adjustment data: 1. 2. Accrued salaries and wages payable $800. Depreciation $200 per month. Supplies on hand $1,500. 3. (b) Your answer is partially correct. Enter the December 1 balances in the ledger T-accounts and post the December transactions. Use Cost of Goods Sold, Depreciation Expense, Salaries and Wages Expense, Sales Revenue, Sales Discounts, and Supplies Expense. (Post entries in the order of journal entries presented above. For accounts with a zero balance select "12/31 Bal." from the list and enter on the normal balance side for that account and enter "O" for the amount.) Cash 12/1 Bal. 7200 12/1 Bal. 1600 12/8