1: Journal Entries ch Learning began operations on November 1. Record the business transactions onth of November & December. Explanations are not required. Refer to the Chart ts for account titles Smart Touch Learning began operations by receiving $27,100 cash and furniture of a fair value of s9,100 from James Smith. The business issued Smith shares of common stock in exchange for this contribution. Date Paid $1,900 cash for a four-month insurance policy on November 1. The policy begins November 1. Paid $450 cash for office supplies on November 4. Debit