On November 1, 2025, Kingbird Inc. had the following account balances. The company uses the perpetual...

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On November 1, 2025, Kingbird Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $25,200 Accumulated Depreciation-Equipment $2,800 Accounts Receivable 6,272 Accounts Payable 9,520 Supplies 2,408 Unearned Service Revenue 11,200 Equipment 70,000 Salaries and Wages Payable 4,760 $103,880 Common Stock 56,000 Retained Earnings 19,600 $103,880 During November, the following summary transactions were completed. Nov. 8 Paid $9,940 for salaries due employees, of which $5,180 is for November and $4,760 is for October. 10 Received $5,320 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $22,400, terms 2/10, n/30. 12 Sold merchandise on account for $15,400, terms 2/10, n/30. The cost of the merchandise sold was $11,200. 15 Received credit from Dimas Discount Supply for merchandise returned $850. 222222222 19 Received collections in full, less discounts, from customers billed on sales of $15,400 on November 12. 20 Paid Dimas Discount Supply in full, less discount. Received $6,440 cash for services performed in November. 25 Purchased equipment on account $14,000. 27 Purchased supplies on account $4,760. 28 Paid creditors $8,400 of accounts payable due. 29 Paid November rent $1,050. 29 Paid salaries $3,640. 29 Performed services on account and billed customers $1,960 for those services. 29 Received $1,890 from customers for services to be performed in the future. 11/1 Bal. 11/1 Bal. Cash 25,200 Accounts Receivable 6,272 Inventory Supplies 11/1 Bal. 2,408 > > > > Equipment 11/1 Bal. 70,000 Accumulated Depreciation-Equipment 11/1 Bal. 2,800 Accounts Payable 11/1 Bal. Unearned Service Revenue 9,520 11/1 Bal. 11,200 Salaries and Wages Payable 11/1 Bal. 4,760 Common Stock 11/1 Bal. Retained Earnings 11/1 Bal. 19,600 Service Revenue Salaries and Wages Expense Rent Expense Sales Revenue Cost of Goods Sold Sales Discounts 56,000 On November 1, 2025, Kingbird Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $25,200 Accumulated Depreciation-Equipment $2,800 Accounts Receivable 6,272 Accounts Payable 9,520 Supplies 2,408 Unearned Service Revenue 11,200 Equipment 70,000 Salaries and Wages Payable 4,760 $103,880 Common Stock 56,000 Retained Earnings 19,600 $103,880 During November, the following summary transactions were completed. Nov. 8 Paid $9,940 for salaries due employees, of which $5,180 is for November and $4,760 is for October. 10 Received $5,320 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $22,400, terms 2/10, n/30. 12 Sold merchandise on account for $15,400, terms 2/10, n/30. The cost of the merchandise sold was $11,200. 15 Received credit from Dimas Discount Supply for merchandise returned $850. 222222222 19 Received collections in full, less discounts, from customers billed on sales of $15,400 on November 12. 20 Paid Dimas Discount Supply in full, less discount. Received $6,440 cash for services performed in November. 25 Purchased equipment on account $14,000. 27 Purchased supplies on account $4,760. 28 Paid creditors $8,400 of accounts payable due. 29 Paid November rent $1,050. 29 Paid salaries $3,640. 29 Performed services on account and billed customers $1,960 for those services. 29 Received $1,890 from customers for services to be performed in the future. 11/1 Bal. 11/1 Bal. Cash 25,200 Accounts Receivable 6,272 Inventory Supplies 11/1 Bal. 2,408 > > > > Equipment 11/1 Bal. 70,000 Accumulated Depreciation-Equipment 11/1 Bal. 2,800 Accounts Payable 11/1 Bal. Unearned Service Revenue 9,520 11/1 Bal. 11,200 Salaries and Wages Payable 11/1 Bal. 4,760 Common Stock 11/1 Bal. Retained Earnings 11/1 Bal. 19,600 Service Revenue Salaries and Wages Expense Rent Expense Sales Revenue Cost of Goods Sold Sales Discounts 56,000