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On November 1, 2022, Shamrock had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $19,800 4,928
On November 1, 2022, Shamrock had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $19,800 4,928 1,892 55,000 $81,620 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit 52,200 7,480 8,800 3,740 44,000 15,400 $81,620 During November, the following summary transactions were completed Nov. 8 10 11 12 15 19 20 22 25 27 28 29 29 29 Paid $7,810 for salaries due employees, of which $4,070 is for November and $3,740 is for October Received $4,180 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $17,600, terms 2/10, n/30 Sold merchandise on account for $12,100, terms 2/10, n/30. The cost of the merchandise sold was $8,800. Received credit from Dimas Discount Supply for merchandise returned $660. Received collections in full, less discounts, from customers billed on sales of $12,100 on November 12. Paid Dimas Discount Supply in full, less discount. Received $5,060 cash for services performed in November Purchased equipment on account $11,000. Purchased supplies on account 53,740. Paid creditors $6,600 of accounts payable due. Paid November rent 5825. Paid salaries $2.860. Performed services on account and billed customers 51,540 for those services. Received $1,485 from customers for services to be performed in the future. (a) Enter the November 1 balances in ledger T-accounts. Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings
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