On November 1, 2025, Splish Brothers Inc. had the following account balances. The company uses the perpetual
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On November 1, 2025, Splish Brothers Inc. had the following account balances. The company uses the perpetual inventory metho Cash Accounts Receivable Supplies Equipment Nov. 10 11 Debit 12 $21,600 5,376 2,064 60,000 $89,040 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue During November, the following summary transactions were completed. Salaries and Wages Payable Common Stock Retained Earnings Credit $2,400 8,160 9,600 4,080 48,000 16,800 $89,040 Paid $8,520 for salaries due employees, of which $4,440 is for November and $4,080 is for October. Received $4,560 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $19,200, terms 2/10, n/30. Sold merchandise on account for $13,200, terms 2/10, n/30. The cost of the merchandise sold was $9,600. Supply for merchandise returned $700.
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