Comprehensive Accounting Cycle Review 5-02 (Part Level Submission)

On November 1, 2022, Kingbird had the following account balances. The company uses the perpetual inventory method.

		Debit				Credit
Cash		$25,200		Accumulated DepreciationEquipment		$2,800
Accounts Receivable		6,272		Accounts Payable		9,520
Supplies		2,408		Unearned Service Revenue		11,200
Equipment		70,000		Salaries and Wages Payable		4,760
		$103,880		Common Stock		56,000
				Retained Earnings		19,600
						$103,880

During November, the following summary transactions were completed.

Nov.	8		Paid $9,940 for salaries due employees, of which $5,180 is for November and $4,760 is for October.
	10		Received $5,320 cash from customers in payment of account.
	11		Purchased merchandise on account from Dimas Discount Supply for $22,400, terms 2/10, n/30.
	12		Sold merchandise on account for $15,400, terms 2/10, n/30. The cost of the merchandise sold was $11,200.
	15		Received credit from Dimas Discount Supply for merchandise returned $840.
	19		Received collections in full, less discounts, from customers billed on sales of $15,400 on November 12.
	20		Paid Dimas Discount Supply in full, less discount.
	22		Received $6,440 cash for services performed in November.
	25		Purchased equipment on account $14,000.
	27		Purchased supplies on account $4,760.
	28		Paid creditors $8,400 of accounts payable due.
	29		Paid November rent $1,050.
	29		Paid salaries $3,640.
	29		Performed services on account and billed customers $1,960 for those services.
	29		Received $1,890 from customers for services to be performed in the future.

(b)

Journalize the November transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit