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During November, the following summary transactions were completed. Nov. 8 Paid $3.266 for salaries due employees, of which $1.702 is for November and $1.564 is
During November, the following summary transactions were completed. Nov. 8 Paid $3.266 for salaries due employees, of which $1.702 is for November and $1.564 is for October: 10 Received $1,748 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $7,400, terms 2/10,n/30. 12. Sold merchandise on account for $5,100, terms 2/10,n/30. The cost of the merchandise sold was $3,680. 15. Received credit from Dimas Discount Supply for merchandise returned $300. 15 Received credit from Dimas Discount Supply for merchandise returned $300. 19 Received collections in full, less discounts, from customers billed on sales of $5,100 on November 12 20 Paid Dimas Discount Supply in full, less discount. 22 Received $2,116 cash for services performed in November. 25 Purchased equipment on account $4,600. 27 Purchased supplies on account $1,564. 28 Paid creditors $2,760 of accounts payable due. 29 Paid November rent $345. 29 Paid salaries $1,196. 29 Performed services on account and billed customers $644 for those services. 29 Received $621 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $1,472 2. Accrued salaries payable are $460. 3. Depreciation for the month is $230. Enter the November 1 balances in ledger T-accounts. Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.)
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