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 Stockhold: Liabilities Uneam. Serv. Rev. Accts. Rec Acc. Depr: - - Equip 500 + + 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 + 10 12 During November, the following summary transactions were completed. Nov. B Paid $1,220 for salaries due employees, of which $390 is for November and $830 is for October salaries payable: 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 Pald salaries $1.050 Performed services on account worth 5950 and billed customers 29 Received 5830 from customers for services to be performed in the future 27 Adjustment data: 1 2. 3. 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. 4. Prepare an income statement for November 30. Monty Equipment Repair Attempts: 0 of 1 used Submit