On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method During November, the following summary transactions were completed. Nov: 8. Paid $10,295 for salaries due employees, of which $5,365 is for November and $4,930 is for October. 10 Received $5,510 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $23,200, terms 2/10, n/30. 12 Sold merchandise on account for $15,950, terms 2/10,n/30. The cost of the merchandise sold was $11,600. 8 Paid $10,295 for salaries due employees, of which $5,365 is for November and $4,930 is for October. 10 Received $5,510 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $23,200, terms 2/10,n/30. 12 Sold merchandise on account for $15,950, terms 2/10,n/30. The cost of the merchandise sold was $11,6 15 Received credit from Dimas Discount Supply for merchandise returned $900. 19 Received collections in full, less discounts, from customers billed on sales of $15,950 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $6,670 cash for services performed in November. 25 Purchased equipment on account $14,500. 27 Purchased supplies on account $4,930. 28 Paid creditors $8,700 of accounts payable due. 29 Paid November rent $1,087. 29 Paid salaries $3,770. 29 Performed services on account and billed customers $2,030 for those services. 29 Received $1,958 from customers for services to be performed in the future. Income Statement For the Month Ended November 30, 2025 tal Revenues les Revenue: Sales Discounts at Sales rvice Revenue ital Revenues Cost of Goods Sold 355 Profit erating Expenses apreciation Expense Prepare a retained earnings statement for November. Prepare a classified balance sheet at November 30 . (List Current Assets in order of liquidity) Liabilities and Stockholders' Equity $ For the Month Ended November 30. 2025 Accounts Recelvable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Common Stock Retained Earnings Service Revenue Depreciation Expense Supplies Expense Salaries and Wages Expense Rent Expense Sales Revenue Cost of Goods Sold Sales Discounts Totals Adjustment data: 1. Supplies on hand are valued at $4,640. 2. Accrued salaries payable are $1,450. 3. Depreciation for the month is $725. 4. $1,885 of services related to the unearned service revenue has not been performed by month-end. Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.)
