Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Larkspur had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $16,200 Accumulated Depreciation Equipment 4,032 Accounts Payable 1,548 Unearned Service Revenue 45,000 Salaries and Wages Payable $66,780 Common Stock Retained Earnings Credit $1,800 6,120 7,200 3,060 36,000 12,600 $66,780 During November, the following summary transactions were completed. Nov. 8 Paid $6,390 for salaries due employees, of which $3,330 is for November and $3,060 is for October. 10 Received $3,420 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $14,400, terms 2/10, n/30. 12 Sold merchandise on account for $9,900, terms 2/10, n/30. The cost of the merchandise sold was $7,200. 15 Received credit from Dimas Discount Supply for merchandise returned $540. 19 Received collections in full, less discounts, from customers billed on sales of $9,900 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $4,140 cash for services performed in November. 25 Purchased equipment on account $9,000. 27 Purchased supplies on account $3,060. 28 Paid creditors $5,400 of accounts payable due. 29 Paid November rent $675. 29 Paid salaries $2,340. 29 Performed services on account and billed customers $1,260 for those services. 29 Received $1,215 from customers for services to be performed in the future. Your answer is partially correct. Try again. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash 11/1 Bal. 16,200 11/8 6390 11/10 3420 11/20 13583 11/19 e 9702 11/28 5400 11/22 4140 11/29 674 11/29 1215 11/29 2340 X 11/30 Bal. A 34677 11/30 Bal. 34677 Accounts Receivable 11/1 Bal. 4,032 11/10 3420 11/12 9900 11/19 9900 11/29 1260 Close 1872 11/30 Bal. 15192 11/30 Bal. A 15192 Inventory 11/11 e 14400 11/12 7200 11/15 a 540 11/20 277 X 11/30 Bal. 14400 11/30 Bal. 14400 Supplies 11/1 Bal. 1,548) 11/27 3060 Close 4608 Equipment 11/1 Bal. 45,000 11/25 9000 Close 54000 11/30 Bal. A 54000 11/30 Bal. A 54000 Accumulated Depreciation-Equipment X Close 1800 || 11/1 Bal. 1,800 Accounts Payable 11/15 540|11/1 Bal. 6,120 11/20 13860 11/11 14400 11/28 5400 11/25 9000 X Close 12780 11/27 3060 X 11/30 Bal. 32580 11/30 Bal. 32580 Unearned Service Revenue 11/1 Bal. 7,200 Close 8415 11/29 1215 Salaries and Wages Payable 11/8 306011/1 Bal. 3,060 Common Stock Close 36000||11/1 Bal. 36,000 11/30 Bal. 36000 11/30 Bal. 4 36000 Retained Earnings Close 12600 || 11/1 Bal. 12,600 Service Revenue 11/22 4140 x Close 5400 11/29 1260 Salaries and Wages Expense 11/8 3060 11/1 Bal. 3060 x x Rent Expense 11/29 675 Close 675 Sales Revenue x Close 9900 11/12 9900 Cost of Goods Sold 11/12 - 7200 Close 7200 Sales Discounts 11/19 198 Close 198
