On November 1, 2017, Kingbird, Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $10,800 Accumulated Depreciation—Equipment $1,200 Accounts Receivable 2,688 Accounts Payable 4,080 Supplies 1,032 Unearned Service Revenue 4,800 Equipment 30,000 Salaries and Wages Payable 2,040 $44,520 Common Stock 24,000 Retained Earnings 8,400 $44,520 

During November, the following summary transactions were completed. 

Nov. 8 Paid $4,260 for salaries due to employees, of which $2,220 is for November and $2,040 is for October. 

10 Received $2,280 cash from customers in payment of account. 

11 Purchased merchandise on account from Dimas Discount Supply for $9,600, terms 2/10, n/30. 

12 Sold merchandise on account for $6,600, terms 2/10, n/30. The cost of the merchandise sold was $4,800. 1

5 Received credit from Dimas Discount Supply for merchandise returned $360. 

19 Received collections in full, fewer discounts, from customers billed on sales of $6,600 on November 12. 

20 Paid Dimas Discount Supply in full, less discount. 

22 Received $2,760 cash for services performed in November. 

25 Purchased equipment on account for $6,000. 

27 Purchased supplies on account for $2,040. 

28 Paid creditors $3,600 of accounts payable due. 

29 Paid November to rent $450. 

29 Paid salaries of $1,560. 

29 Performed services on account and billed customers $840 for those services. 

29 Received $810 from customers for services to be performed in the future.

Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.)