I have already completed part A (included only for informational purposes). Need

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I have already completed part A (included only for informational purposes). Need help with correcting parts B (marked with x or red box).

Comprehensive Problem 5 (Part Level Submission) On December 1, 2017, Prosen Distributing Company had the following account balances Debit $7,000 Accumulated Depreciation-Equipment Cash Accounts Recelvable Inventory Supplies Equipment Credit $2,420 4,600 1,200 30,000 0,980 $49,200 4,700 Accounts Payable 11,900 Salaries and Wages Payable 1,400 Common Stock 24,200 Retained Earnings $49,200 During December, the company completed the following summary transactions. Dec. 6 Paid $2,050 for salaries and wages due employees, of which $850 is for December and $1,200 is for November salaries and wages payable. 8 Received $2,000 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,800. The cost of the merchandise sold was $3,900 13 Purchased merchandise on account from Maglio Co. $9,400, terms 2/10, n/30. 15 Purchased supplies for cash $1,700. 18 Sold merchandise on account $13,000, terms 3/10, n/30. The cost of the merchandise sold was $8,200. 20 Paid salaries and wages $2,000. 23 Paid Maglio Co. in full, less discount 27 Received collections in full, less discounts, from customers billed on December 18.

Explanation / Answer

Inventory 12/1 Bal. 11,900 12/10 3,900 12/13 9,400 12/18 8,200 12/23 188 12/31 Bal 9,012 Supplies 12/1 Bal 1,400 12/15 1,700 12/31 Bal 3,100 Equipment 12/1 Bal 24,200 12/31 Bal 24,200 Accumulated Depreciation: Equipment 12/1 Bal 2,420 12/31 Bal 2,420 Accounts Payable 12/23 9,212 12/1 Bal 4,600 12/23 188 12/13 9,400 12/31 Bal 4,600 Common Stock 12/1 Bal 30,000 12/31 Bal 30,000 Retained Earnings 12/1 Bal 10,980 12/31 Bal 10,980 Sales Revenue 12/10 6,800 12/18 13,000 12/31 Bal 19,800 Sales Discount 12/27 390 12/31 Bal 390 Cost of Goods Sold 12/10 3,900 12/18 8,200 12/31 Bal 12,100 Salaries and Wages Expense 12/6 850 12/20 2,000 12/31 Bal 2,850

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