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Four transactions for Automotive Maintenance and Repair Shop that took place in November 2 0 X 1 appear below. DATE TRANSACTION November 1 Ryan O
Four transactions for Automotive Maintenance and Repair Shop that took place in November X appear below.
DATE TRANSACTION
November Ryan OMalley invested $ in cash plus tools with a fair market value of $ to start the business.
November Purchased equipment for $ and supplies for $ from Automotive Maintenance and Repair Shop, Invoice ; issued Check for $ as a down payment with the balance due in days.
November Performed services for Patricia Reed for $ who paid $ in cash with the balance due in days.
November Purchased machinery for $ from Carter Equipment Company, Invoice ; issued Check for $ in cash as a down payment with the balance due in days.
Record the transactions in the general journal and post them to the appropriate ledger accounts.
Analyze:
What liabilities does the business owe as of November
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