On November 1, 2017, Sage Hill Inc. had the following account balances. The company uses the perpetual inventory method. Debit $7,380 Cash Credit $820 2.788 Accounts Receivable Supplies Equipment 1,837 705 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 3,280 1,394 20,500 $30,422 16,400 5,740 $30,422 During November, the following summary transactions were completed. Nov. 8 10 11 12 15 19 Paid $2,911 for salaries due employees, of which $1,517 is for November and $1,394 is for October Received $1,558 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $6,560, terms 2/10, n/30. Sold merchandise on account for $4,510, terms 2/10, n/30. The cost of the merchandise sold was $3,280. Received credit from Dimas Discount Supply for merchandise returned $246. Received collections in full, less discounts, from customers billed on sales of $4,510 on November 12. Paid Dimas Discount Supply in full, less discount. Received $1,886 cash for services performed in November. Purchased equipment on account $4,100. Purchased supplies on account $1,394. Paid creditors $2,460 of accounts payable due. Paid November rent $308. Paid salaries $1,066. Performed services on account and billed customers $574 for those services. Received $554 from customers for services to be performed in the future. 20 22 25 27 28 29 29 29 29 Adjustment data: 1. 2. 3. Supplies on hand are valued at $1,312. Accrued salaries payable are $410. Depreciation for the month is $205. $533 of services related to the unearned service revenue has not been performed by month- end. 4. Supplies 11/1 Bal. 705 11/30 787 11/27 1,394 11/30 Bal. 1312 11/1 Bal. 11/25 11/30 Bal. Equipment 20,500 4,100 24,600 Accumulated Depreciation Equipment 11/1 Bal. 820 11/30 205 11/30 Bal. 1025 Unearned Service Revenue 11/1 Bal. 3,280 11/30 3301 11/29 554 11/30 Bal. 533 Salaries and Wages Payable 1,394 11/1 Bal. 11/8 1,394 11/30 410 11/30 Bal. 1804 Service Revenue 11/22 1,886 11/29 574 11/30 3301 Depreciation Expense 11/30 205 Supplies Expense 11/30 787 Salaries and Wages Expense 11/8 1,517 11/29 1,066 11/30 410