Question: Please fill in all the blanks, dont send incorrect or incomplete answers, Thank You! Problem 2-11 Cash versus accrual accounting [LO2-8] Selected balance sheet information

Please fill in all the blanks, dont send incorrect or incomplete answers, Thank You!  Please fill in all the blanks, dont send incorrect or incomplete
answers, Thank You! Problem 2-11 Cash versus accrual accounting [LO2-8] Selected balance

Problem 2-11 Cash versus accrual accounting [LO2-8] Selected balance sheet information for the Wolt Company at November 30, and December 31, 2013, is presented below. The company uses the perpetual inventory system and all sales to customers are made on credit Nov. 30 Dec. 31 Cr. Accounts receivable Prepaid insurance Inventory Accounts payable wages payable Dr 9,600 4,600 6,600 Dr 2,600 7,100 5,600 11,600 4,600 14.600 2,600 The following cash flow information also is available a. Cash collected from credit customers, $76,000 b. Cash paid for insurance, $4,600 c. Cash paid to suppliers of inventory, $56,000 (the entire accounts payable amounts relate to inventory purchases) d. Cash paid to employees for wages, $9,600 Required 1. Determine the following for the month of December a Sales revenue b. Cost of goods sold C. Insurance expense d. Wage expense

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