On November 1, 2025, Shamrock Inc. had the following account balances. The company uses the perpetual...

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On November 1, 2025, Shamrock Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $9,900 Accumulated Depreciation-Equipment $1,100 Accounts Receivable 2.464 Accounts Payable 3,740 Supplies 946 Unearned Service Revenue 4,400 Equipment 27.500 Salaries and Wages Payable 1,870 $40,810 Common Stock 22,000 Retained Earnings 7,700 $40,810. During November, the following summary transactions were completed. Nov. 8 Paid $3,905 for salaries due employees, of which $2,035 is for November and $1.870 is for October. 10 Received $2,090 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8,800, terms 2/10, n/30. 12 Sold merchandise on account for $6,050, terms 2/10, n/30. The cost of the merchandise sold was $4,400. 15 Received credit from Dimas Discount Supply for merchandise returned $350. On November 1, 2025, Shamrock Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $9,900 Accumulated Depreciation-Equipment $1,100 Accounts Receivable 2.464 Accounts Payable 3,740 Supplies 946 Unearned Service Revenue 4,400 Equipment 27.500 Salaries and Wages Payable 1,870 $40,810 Common Stock 22,000 Retained Earnings 7,700 $40,810. During November, the following summary transactions were completed. Nov. 8 Paid $3,905 for salaries due employees, of which $2,035 is for November and $1.870 is for October. 10 Received $2,090 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8,800, terms 2/10, n/30. 12 Sold merchandise on account for $6,050, terms 2/10, n/30. The cost of the merchandise sold was $4,400. 15 Received credit from Dimas Discount Supply for merchandise returned $350.

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Answer Shamrock Inc General Journal Entries Perpetual Inventory Method November 1st No journal entry ... View the full answer