On November 1, 2022, the following were the account balances of Sunland Equipment Repair. Cash Accounts...
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On November 1, 2022, the following were the account balances of Sunland Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $3,220 Accumulated 3,150 Accounts Payable 1,550 10,430 $18,350 Depreciation-Equipment Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $500 2,730 400 860 10,430 3,430 $18,350 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $360 is for November and $860 is for October salaries payable. 10 Received $1,820 cash from customers in payment of account. 12 Received $3,770 cash for services performed in November. 15 Purchased store equipment on account $3,610. 17 Purchased supplies on account $1,320. 20 Paid creditors $2,530 of accounts payable due. 22 Paid November rent $460. 25 Paid salaries $1,050. 27 Performed services on account worth $960 and billed customers. 29 Received $760 from customers for services to be performed in the future. Enter the November 1 balances in the ledger accounts. 20 eTextbook and Media Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable : Unearned Service Revenue Common Stock : Salaries and Wages Payable Retained Earnings eTextbook and Media List of Accounts Journalize the November transactions. (If no entry is required, select No Entry for the account titles and enter 0 the amount is entered. Do not Indent manually.) Date Account Titles and Explanation Nov. 8 eTextbook and Media List of Accounts Debit Credit On November 1, 2022, the following were the account balances of Sunland Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $3,220 Accumulated 3,150 Accounts Payable 1,550 10,430 $18,350 Depreciation-Equipment Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $500 2,730 400 860 10,430 3,430 $18,350 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $360 is for November and $860 is for October salaries payable. 10 Received $1,820 cash from customers in payment of account. 12 Received $3,770 cash for services performed in November. 15 Purchased store equipment on account $3,610. 17 Purchased supplies on account $1,320. 20 Paid creditors $2,530 of accounts payable due. 22 Paid November rent $460. 25 Paid salaries $1,050. 27 Performed services on account worth $960 and billed customers. 29 Received $760 from customers for services to be performed in the future. Enter the November 1 balances in the ledger accounts. 20 eTextbook and Media Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable : Unearned Service Revenue Common Stock : Salaries and Wages Payable Retained Earnings eTextbook and Media List of Accounts Journalize the November transactions. (If no entry is required, select No Entry for the account titles and enter 0 the amount is entered. Do not Indent manually.) Date Account Titles and Explanation Nov. 8 eTextbook and Media List of Accounts Debit Credit
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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