Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Teal Mountain had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $13,500 Accumulated Depreciation-Equipment $1,500 Accounts Receivable 3,360 Accounts Payable 5,100 Supplies 1,290 Unearned Service Revenue 6,000 Equipment 37,500 Salaries and Wages Payable 2,550 $55,650 Common Stock 30,000 Retained Earnings 10,500 $55,650 During November, the following summary transactions were completed. Nov. 8 10 11 12 15 19 20 22 Paid $5,325 for salaries due employees, of which $2,775 is for November and $2,550 is for October Received $2,850 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $12,000, terms 2/10, n/30. Sold merchandise on account for $8,250, terms 2/10, n/30. The cost of the merchandise sold was $6,000. Received credit from Dimas Discount Supply for merchandise returned $450. Received collections in full, less discounts, from customers billed on sales of $8,250 on November 12. Paid Dimas Discount Supply in full, less discount. Received $3,450 cash for services performed in November Purchased equipment on account $7,500. Purchased supplies on account $2,550. Paid creditors $4,500 of accounts payable due. Paid November rent $562. Paid salaries $1,950. Performed services on account and billed customers $1,050 for those services. Received $1,013 from customers for services to be performed in the future. 25 27 28 29 29 29 29 Adjustment data: 1. Supplies on hand are valued at $2,400. 2. Accrued salaries payable are $750. 3. Depreciation for the month is $375. 4. $975 of services related to the unearned service revenue has not been performed by month-end. Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 4. Nov. 30