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):

Assets=Liabilities+Equity Cash+Accounts Receivable+Office Supplies+Office Equip.+Electrical Equip.=Accounts Payable+Larry Power, Capital $31,000+$7,100+$2,000+$29,000+$14,500=$19,000+$64,600

During November, the following occurred:

Nov.1Rented office space and paid cash for the months rent of $7,300. 3Purchased 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. 5Purchased office supplies by paying $1,900 cash. 6Completed electrical work and immediately collected $2,100 for doing the work. 8Purchased $5,300 of office equipment on credit. 15Completed electrical work on credit in the amount of $6,100. 16Interviewed and hired a part-time electrician who will be paid $5,400 each month. He will begin work in three weeks. 18Purchased $1,100 of office supplies on credit. 20Paid for the office equipment purchased on November 8. 24Billed a client $4,850 for electrical work; the balance is due in 30 days. 28Received $6,100 for the work completed on November 15. 30Paid the office assistants salary of $4,500. 30Paid the monthly utility bills of $3,700. 30Power withdrew $1,500 from the business for personal use