ACCOUNTING-On November 1, 2014, the account balances of Noreen Equipment Repair

P3-5COn November 1, 2014, the account balances of Noreen Equipment Repair were asfollows.No. Debits No. Credits101 Cash $ 2,500 158 Accumulated Depreciation—112 Accounts Receivable 4,400 Equipment $ 2,000126 Supplies 1,600 201 Accounts Payable 3,100157 Equipment 14,000 209 Unearned Service Revenue 1,700212 Salaries and Wages Payable 700311 Common Stock 11,000320 Retained Earnings 4,000$22,500 $22,500During November the following summary transactions were completed.Nov. 8 Paid $1,600 for salaries due employees, of which $700 is for October salaries.10 Received $3,240 cash from customers on account.12 Received $3,600 cash for services performed in November.15 Purchased equipment on account $2,500.17 Purchased supplies on account $500.20 Paid creditors on account $2,900.22 Paid November rent $800.25 Paid salaries $1,800.27 Performed services on account and billed customers for services provided $700.29 Received $900 from customers for future service.Adjustment data consist of:1. Supplies on hand $1,000.2. Accrued salaries payable $450.3. Depreciation for the month is $400.4. Unearned service revenue of $1,500 is earned.Instructions(a) Enter the November 1 balances in the ledger accounts.(b) Journalize the November transactions.(c) Post to the ledger accounts. Use J1 for the posting reference. Use the following addi-tional accounts: No. 400 Service Revenue, No. 631 Supplies Expense, No. 711Depreciation Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.(d) Prepare a trial balance at November 30.(e) Journalize and post adjusting entries.(f) Prepare an adjusted trial balance.(g) Prepare an income statement and a retained earnings statement for November and abalance sheet at November 30

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