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): During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of $7,500. 3 Purchased electrical equipment for $21,000 fron an electrician who was golng out of business, by using $11,500 in personal funds and agreeing to pay the bolance in 30 days. 5 purchased offlice supplies by paying $2,100 cash. 6 Completed electrical work and Immediately collected $2,300 for doing the work. 8 Purchased $5,500 of office equipment on credit. 15 Completed electricol work on credit in the anount of $6,300. 16 Interviewed and hired a part-time electriclan who w 11 be paid $5,600 each wonth. He will begin uork in three weeks. 18 Purchased $1,300 of office supplies on credit. 20 Paid for the office equipment purchased on November 8 . 24 Billed a client $4,950 for electrical work; the balance 15 due in 30 days. 28 Received $6,360 for the work completed on November 15. 36 Paid the offlce assistant's salary of $4,700. 30 Paid the monthly utility bills of $3,909. 30 Power withdrew $1,700 from the business for personal use