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Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Larkspur had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $26,100 6,496 2,494 72,500 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $2,900 9,860 11,600 4,930 58,000 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. 12 Sold merchandise on account for $15,950, terms 2/10, n/30. The cost of the merchandise sold was $11.600. 15 Received credit from Dimas Discount Supply for merchandise returned $870. 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. 22 Received $6,670 cash for services performed in November 25 Purchased equipment on account $14,500. 27 Purchased supplies on account $4,930. 28 Paid creditors $8,700 of accounts payable due. 29 Paid November rent $1,087. 29 Paid salaries $3,770. 29 Performed services on account and billed customers $2,030 for those services. 29 Received $1,958 from customers for services to be performed in the future. CALCULA Prepare an adjusted trial balance at November 30. He LARKSPUR Adjusted Trial Balance For the Year Ended November 30, 2022 Debit ycle Credit (Part sion) Cash Accounts Receivable s by re Inventory Equipment 87000 Accumulated Depreciation-Equipment 3625 Accounts Payable 20590 Unearned Service Revenue 1885 Salaries and Wages Payable 1450 Common Stock 58000 Retained Earnings 20300 Service Revenue 20373 Help System Announcements CALCU Retained Earnings 20300 Service Revenue 20373 Depreciation Expense 725 Supplies Expense 2784 Salaries and Wages Expense 10585 Rent Expense 1087 Supplies 4640 Sales Revenue 15950 Cost of Goods Sold Sales Discounts Totals 142173 142173 SHOW LIST OF ACCOUNTS SHOW ANSWER LARKSPUR Income Statement

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