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): + Cash $47,000 + Accounts Receivable + $8,700 + Assets Office Supplies + $3,600 + Office Equip. + $45,000 + Electrical Equip. $22,500 = Liabilities + Accounts Payable $35,000 + = 30 Paid the monthly utility bills of $5,300. 30 Power withdrew $3,100 from the business for personal use. During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of $8,900. 3 Purchased electrical equipment for $35,000 from an electrician who was going out of business, by using $18,500 in personal funds and agreeing to pay the balance in 30 days. Hint: Reminder to record the impact of the owner's deposit of cash in the business before recording the purchase of the equipment. 5 Purchased office supplies by paying $3,500 cash. 6 Completed electrical work and immediately collected $3,700 for doing the work. 8 Purchased $6,900 of office equipment on credit. 15 Completed electrical work on credit in the amount of $7,700. 16 Interviewed and hired a part-time electrician who will be paid $7,000 each month. He will begin work in three weeks. 18 Purchased $2,700 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 Billed a client $5,650 for electrical work; the balance is due in 30 days. 28 Received $7,700 for the work completed on November 15. 30 Paid the office assistant's salary of $6,100. Equity Larry Power, Capital $91,800

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 $8,900. 3 Purchased electrical equipment for $35,000 from an electrician who was going out of business, by using $18,500 in personal funds and agreeing to pay the balance in 30 days. Hint: Reminder to record the impact of the owrer's deposit of cash in the business before recording the purchase of the equipment. 5 Purchased office supplies by paying $3,500 cash. 6 Completed electrical work and inmediately collected $3,700 for doing the work. 8 Purchased $6,900 of office equipment on credit. 15 completed electrical work on credit in the amount of $7,790. 16 Interviewed and hired a part-tine electrician who will be paid $7,000 each month. He will begin work in three weeks. 18 Purchased $2,700 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 Billed a client $5,650 for electrical work; the balance is due in 39 days. 28 Received $7,700 for the work completed on November 15. 30 Paid the office assistant's salary of $6,100. 30 Paid the monthly utility bills of $5,300. 30 Power withdrew $3,100 from the business for personal use