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Question 3: Ahmed has a service business in Al-Kharj. During November, the following transactions occurred: 1. Paid $2,900 cash on accounts payable. 2. Collected $1,300

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Question 3: Ahmed has a service business in Al-Kharj. During November, the following transactions occurred: 1. Paid $2,900 cash on accounts payable. 2. Collected $1,300 of accounts receivable. 3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account. 4. Earned revenue of $7,800, of which $2,500 is received in cash and the balance is due in December. 5. Withdrew $1,100 cash for personal use. 6. Paid salaries $1,700, rent for November $900, and advertising expense $450. 7. Incurred utilities expense for month on account $170. 8. Received $10,000 from Riyad Bank (money borrowed on a note payable). On October 31st, the balance sheet showed Cash $9,000, Supplies $600, Equipment $6,000, Accounts Receivable $1,700, Accounts Payable $3,600, and Owner's Capital $13,700. Instructions: (a) Prepare a tabular analysis of the November transactions beginning from October 31st balances. (b) Prepare an income statement for November, an owner's equity statement for November, and a balance sheet on November 30th

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