Larry Power started a new business in the name of Power Electrical on October 1, 2017. During October, a number of activities occurred and the following totals resulted at October 31, 2017 (shown in accounting equation format) Assets Liabilities Equity Accounts Office Cash ReceivableSupplies Equip.Equip.PayableCapital $39,000 $7,900$2,800 $37,000$18,500$27,000$78,200 During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of $8,100 3 Purchased electrical equipment for $27,000 from an electrician who was going out of business, by using $14,500 in personal funds and agreeing to pay the balance in 30 days 5 Purchased office supplies by paying $2,700 cash. Nov. 6 Completed electrical work and immediately collected $2,900 for doing the work 8 Purchased $6,100 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,900 16 Interviewed and hired a part-time electrician who will be paid $6,200 each month. He will begin work in three weeks. 18 Purchased $1,900 of office supplies on credit. 20 Paid for the office equipment purchased on November 8 24 Billed a client $5,250 for electrical work; the balance is due in 30 days. 28 Received $6,900 for the work completed on November 15 30 Paid the office assistant's salary of $5,300 30 Paid the monthly utility bills of $4,500 30 Power withdrew $2,300 from the business for personal use