After researching the different forms of business organization. Concord Koebel decides to operate "Cookie Creations" as a proprietorship. She then starts the process of getting the business running. In November $2021,$ the following activities take place.

Nov. $8$ Concord cashes her U$.$S$.$ Savings Bonds and receives $$410,$ which she deposits in her personal bank account.

$8$ She opens a bank account under the name "Cookie Creations" and transfers $$390$ from her personal account to the new account.

$11$ Concord pays $$50$ for advertising.

$13$ She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $$100$ cash. $($Hint: Use Supplies account.$)$

$14$ Concord starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top$-$of$-$the$-$line food processor and mixer that originally cost her $$590.$ Concord decides to start using it only in her new business. She estimates that the equipment is currently worth $$230.$ She invests the equipment in the business.

$16$ Concord realizes that her initial cash investment is not enough. Her grandmother lends her $$1,600$ cash, for which Concord signs a note payable in the name of the business. Concord deposits the money in the business bank account. $($Hint: The note does not have to be repaid for $24$ months. As a result, the note payable should be reported in the account as the last liability and also on the balance sheet as the last liability.$)$

$17$ She buys more baking equipment for $$700$ cash.

$20$ She teaches her first class and collects $$100$ cash.

$25$ Concord books a second class for December $4$ for $$120.$ She receives $$20$ cash in advance as a down payment.

$30$ Concord pays $$1,030$ for a one$-$year insurance policy that will expire on December $1,2022.$