Soho Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary includes the following information. Note that Soho began the month with $3,000 in Retained Earnings. This balance represents the results of its first two months of business. During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $600 is for November and $620 is for October salaries payable. 10 Received $1,800 cash from customers in payment of account. 12 Received $3,700 cash for services performed in November. 15 Purchased store equipment on account $3,600. 17 Purchased supplies on account $1,300. 20 Paid creditors $2,500 of accounts payable due. 22 Paid November rent $480. 25 Paid salaries $1,000. 27 Performed services on account worth $900 and billed customers. 29 Received $750 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $1,100. 2. Accrued salaries payable are $480. 3. Depreciation for the month is $250. 4. Services were performed to satisfy $500 of unearned service revenue. Instructions: a) Record the November transactions. Include explanations for amounts in the revenue or expense column. b) Compute the balance in each column after recording the November 29 transaction. c) Record adjustments. d) Compute the adjusted balance in each column. e) Prepare an income statement and a retained earnings statement for November and a classified balance sheet at November 30. Assets Liabilities Sup- plies 1.120 Acc. Depr.- Equip. 500 Unearn. Serv. Rev. Accts. Cash + Rec. 11/1 Bal. 2,790 + 2,910 Transact. + + Stockholders' Equity Sal./ Wag. Com Pay. + Stock + Retained Earnings 620 + 10,000 + 3,000 Rev. - Exp. - Div. Accts. Pay. + 2,300 + + Equip. + 10,000 + 400 +