After researching the different forms of business organization. Sunland 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 Sunland cashes her U.S. Savings Bonds and receives $590, which she deposits in her personal bank account. 8 She opens a bank account under the name "Cookie Creations" and transfers $570 from her personal account to the new account. 11 Sunland pays $75 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $145 cash. (Hint: Use Supplies account.) 14 Sunland 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 $360. Sunland decides to start using it only in her new business. She estimates that the equipment is currently worth $340. She invests the equipment in the business. 16 Sunland realizes that her initial cash investment is not enough. Her grandmother lends her $2,300 cash, for which Sunland signs a note payable in the name of the business. Sunland 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 accounts as the last liability and also on the balance sheet as the tast liability) 17 She buys more baking equipment for $1.030 cash. 20 She teaches her first class and collects $145 cash. 25 Sunland books a second class for December 4 for $170. She receives $80 cash in advance as a down payment