arry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of act occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format): + Accounts Receivable $7,680 Assets Office + Supplies + $2,500 Cash $36,000 + Office Equip $34,000 Liabilities Accounts Payable $24,000 Equity Larry Power, Capital $73, 100 Electrical Equip $17,000 . + + + During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of $7,800. 3 Purchased electrical equipment for $24,000 from an electrician who was going out of business, by using $13,000 in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $2,400 cash. Nov. 6 Completed electrical work and immediately collected $2,600 for doing the work. & Purchased $5,800 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,600. 16 Interviewed and hired a part-time electrician who will be paid $5,900 each month. He will begin work in three weeks. 18 Purchased $1,600 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 Billed a client $5,100 for electrical work; the balance is due in 30 days. 28 Received $6,600 for the work completed on November 15. 30 Paid the office assistant's salary of $5,000. 30 Paid the monthly utility bills of $4,200. 30 Power withdrew $2,000 from the business for personal use