Comprehensive Problem 5 (Part Level Submission) On December 1, 2017, Prosen Distributing Company had the following account balances Debit Credit Accumulated $7,200 Depreciation $2,640 Equipment cash Accounts 4,600 Accounts 5,000 ReceivablePayable Salaries and 1,000 30,000 12,960 $51,600 Inventory 12,200 Wages Payable 1,200 stockned Supplies Equipment 26,400 etained Earnings $51,600 During December, the company completed the following summary transactions Dec. 6 Paid $1,550 for salaries and wages due employees, of which $550 is for December and $1,000 is for November salaries and wages payable 8 Received $1,800 cash from customers in payment of account (no discount allowed) 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $4,200 13 Purchased merchandise on account from Maglio Co. $8,800, terms 2/10, n/30 15 Purchased supplies for cash $1,800 18 Sold merchandise on account $12,400, terms 3/10, n/30. The cost of the merchandise sold was $8,100 20 Paid salaries and wages $1,900 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18 ournalize the December 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 (To record sales revenue.) (To record cost of goods sold.) To record the sales revenue.) (To record cost of goods sold.) Dec. 27