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On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $26,100 Accumulated Depreciation-Equipment
On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $26,100 Accumulated Depreciation-Equipment $2,900 Accounts Receivable 6,496 Accounts Payable 9,860 Supplies 2,494 Unearned Service Revenue 11,600 Equipment 72,500 Salaries and Wages Payable 4,930 $107,590 Common Stock 58,000 Retained Earnings 20,300 $107,590 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. 15 12 Sold merchandise on account for $15,950, terms 2/10, n/30. The cost of the merchandise sold was $11.600. 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. Received $6,670 cash for services performed in November. 25 Purchased equipment on account $14,500. 27 Purchased supplies on account $4,930. 2222222222 28 29 29 29 29 Paid creditors $8,700 of accounts payable due. Paid November rent $1,087. Paid salaries $3,770. Performed services on account and billed customers $2,030 for those services. Received $1,958 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.) 11/1 Bal. Cash 26,100 S
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