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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 20X1 appear below.
DATE TRANSACTION
November 1 Ryan OMalley invested $65,000 in cash plus tools with a fair market value of $3,000 to start the business.
November 2 Purchased equipment for $1,850 and supplies for $350 from Automotive Maintenance and Repair Shop, Invoice 501; issued Check 100 for $500 as a down payment with the balance due in 30 days.
November 10 Performed services for Patricia Reed for $3,900, who paid $1,500 in cash with the balance due in 30 days.
November 20 Purchased machinery for $5,000 from Carter Equipment Company, Invoice 709; issued Check 101 for $2,000 in cash as a down payment with the balance due in 30 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 30?

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