Four transactions for Automotive Maintenance and Repair Shop that took place in November $2U1$ appedi Delow.

DATE TRANSACTION

Nov. $1$ Ryan $0$'Malley invested $$49,000$ in cash plus tools with a fair market value of $$1,400$ to start the business.

$2$ Purchased equipment for $$1,990$ and supplies for $$490$ from office Depot, Invoice $501$ ; issued Check $100$ for $$640$ as a down payment with the balance due in $30$ days.

$10$ Performed services for Patricia Reed for $$2,300,$ who paid $$700$ in cash with the balance due in $30$ days.

$20$ Purchased machinery for $$3,400$ from Craft Machinery, Inc., Invoice $709$ ; issued Check $101$ for $$1,200$ 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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Record the above transactions in the general journal.