0 Required Information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 3-4, LO 3-5) The following information applies to the questions displayed below.) MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. Account Payable $360 Equipment $ 2,880 Cash 1,200 Repairs xpense Cleaning Expense Common Stock Wages Expense Service Ravenue 1.080 3.600 240 2,400 960 E3-20 (Algo) Part 4 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. Cash Accounts Payable Credit Debit Debit Beginning Balance Credit Beginning Balance Ending Balance Ending Balance Service Revenue Equipment Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance 0 Common Stock Cleaning Expense Credit Credit Dehlt Beginning Balance Debit Beginning Balance 0 0 Ending Balance Ending Balance Repairs Expense Retained Earnings Credit Debit Credit Beginning Balance Debit Beginning Balance 0 Ending Balance Ending Balance Wages Expose Credit Detsit Beginning Balance Ending Balance 0 0 Required Information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 3-4, LO 3-5) The following information applies to the questions displayed below.) MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. Account Payable $360 Equipment $ 2,880 Cash 1,200 Repairs xpense Cleaning Expense Common Stock Wages Expense Service Ravenue 1.080 3.600 240 2,400 960 E3-20 (Algo) Part 4 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. Cash Accounts Payable Credit Debit Debit Beginning Balance Credit Beginning Balance Ending Balance Ending Balance Service Revenue Equipment Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance 0 Common Stock Cleaning Expense Credit Credit Dehlt Beginning Balance Debit Beginning Balance 0 0 Ending Balance Ending Balance Repairs Expense Retained Earnings Credit Debit Credit Beginning Balance Debit Beginning Balance 0 Ending Balance Ending Balance Wages Expose Credit Detsit Beginning Balance Ending Balance 0