ledger accounts

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On November 1, 2017, the following were the account balances of Soho Equipment Repair.

Debit Credit

Cash $ 3,230 Accumulated Depreciation—Equipment $ 500

Accounts Receivable 3,030 Accounts Payable 2,740

Supplies 1,560 Unearned Service Revenue 400

Equipment 10,440 Salaries and Wages Payable 740

Common Stock 10,440

Retained Earnings 3,440

$18,260 $18,260

During November, the following summary transactions were completed.

Nov. 8

Paid $1,220 for salaries due employees, of which $480 is for November and $740 is for October salaries payable.

10 Received $1,820 cash from customers in payment of account.

12 Received $3,770 cash for services performed in November.

15 Purchased store equipment on account $3,850.

17 Purchased supplies on account $1,370.

20 Paid creditors $2,580 of accounts payable due.

22 Paid November rent $520.

25 Paid salaries $1,040.

27 Performed services on account worth $980 and billed customers.

29 Received $820 from customers for services to be performed in the future.

*(a) Enter the November 1 balances in the ledger accounts.

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