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Part B (18 marks) The following information relates to the business of Jones Mower Repairs for November 2017: - November 2 Purchased repair supplies worth $1 000 on credit.

- November 5 Mower repair equipment was purchased with cash at a cost of $24 000.

- November 11 Earned fees totaling $8 500 from customers for performing repair services. Of this, 30% of the fees were collected in cash and the remaining balance will be collected in December 2017.

- November 13 Paid rent of $2 650 for the next month. The payment is recorded as an asset initially.

- November 30 Paid wages of $3 500 for the current month. Required: 1) Prepare journal entries to record the above transactions for the month ended 30 November 2017. Narrations ARE required. (14 marks)

Date	Acount	Debit	Credit

2) Post the transaction that occurred on 2 November 2017 to the following T-accounts. You need to provide a name for each account, indicate its opening balance, post the transaction, and indicate its closing balance. Assume that the opening balances of these accounts are zero. (Hint: do not provide both c/d and b/d balances. Just indicate the closing balance at the normal balance side.) (4 marks)

Name: Date Explanation Amount Date Explanation Amount

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