Larry Power started a new business in the name of Power Electrical on October 1, 2023. During October, a number of activities occurred and the following totals resulted at October 31, 2023 (shown in accounting equation format): Accounts Assets Office Cash 4. Receivable $31,000 +4 $7,100 Supplies + + $2,000 = Liabilities + Office Electrical Accounts Equip. + Equip. = Payable + $29,000 + $14,500 = $19,000 + Equity Larry Power, Capital $64,600 During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of $7,300. 3 Purchased electrical equipment for $19,000 from an electrician who was going out of business, by using $10,500 in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $1,900 cash. 6 Completed electrical work and immediately collected $2,100 for doing the work. 8 Purchased $5,300 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,100. 16 Interviewed and hired a part-time electrician who will be paid $5,400 each month. He will begin work in three weeks. 18 Purchased $1,100 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 Billed a client $4,850 for electrical work; the balance is due in 30 days. 28 Received $6,100 for the work completed on November 15. 30 Paid the office assistant's salary of $4,500. 30 Paid the monthly utility bills of $3,700. 30 Power withdrew $1,500 from the business for personal use.