Monty Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month On November 1, 2017, a tabular summary includes the following information. Note that Monty began the month with $3,520 in Retained Earnings. This balance represents the results of its first two months of business. Assets Stockholdi Liabilities Unearn. Serv. Rev. Acc. Depr: - - Equip 500 Accts. Rec + Cash + 11/1 Bal. 3,310 + Supplies 1,640 Equip 10,520 Accts Pay 2.820 Sal./Wages + Pay. 830+ Com Stock 10,520 + 3,120 + 400 + 12 During November, the following summary transactions were completed. Nov. 8 Paid $1.220 for salaries due employees, of which $390 is for November and $830 is for October salaries payable. 10 Received $1,880 cash from customers in payment of account Received $3,710 cash for services performed in November 15 Purchased store equipment on account $3,610, 17 Purchased supplies on account $1.380 20 Pald creditors $2.580 of accounts payable due 22 Paid November rent $460. 25 Paid salaries 51.050 Performed services on account worth 5950 and billed customers 29 Received 5830 from customers for services to be performed in the future Adjustment data: 1. . . Supplies on hand are valued at $1.290. Accrued salaries payable are $490. Depreciation for the month is $280, Services were performed to satisfy $550 of unearned service revenue. Monty Equipment Repair Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Attempts: 0 of 1 used Submit Anwer