Background:

Canyon Canoe Company is a service$-$based company that rents canoes for use on local lakes and rivers. Canyon Canoe is a corporation that was started by Amber & Zack Wilson. Canyon Canoe Company began operations on November $1,2018,$ and entered into the transactions listed below over its first two months of operations.

$11/01/2018$ Received $$16,000$ cash to begin the company and issued common stock to Amber and Zack Wilson.

$11/02/2018$ Signed a lease for a building and paid $$1,200$ for the first month's rent.

$11/03/2018$ Purchased canoes for $$4,800$ on account.

$11/04/2018$ Purchased office supplies on account, $$750.$

$11/07/2018$ Earned $$1,400$ cash for rental of canoes.

$11/13/2018$ Paid $$1,500$ cash for wages.

$11/15/2018$ Paid $$50$ of dividends to stockholders.

$11/16/2018$ Received a bill for $$150$ for utilities $($use a separate payable account$).$

$11/20/2018$ Received a bill for $$175$ for cell phone expenses $($use separate payable account$).$

$11/22/2018$ Rented canoes to Early Start Daycare on account, $$3,000.$

$11/26/2018$ Paid $$1,000$ on account related to the November $3$ purchase.

$11/28/2018$ Received $$750$ from Early Start Daycare for canoe rental from November $22.$

$11/30/2018$ Paid $$100$ of dividends to stockholders.

$12/01/2018$ Amber and Zack contributed land on the river $($worth $$85,000)$ and a small building to use as a rental office $($worth $$35,000)$ in exchange for common stock.

$12/01/2018$ Prepaid $$3,000$ for three months' rent on the warehouse where the company stores the canoes.

$12/02/2018$ Purchased canoes signing a note payable for $$7,200.$

$12/04/2018$ Purchased office supplies on account for $$500.$

$12/09/2018$ Received $$4,500$ cash for canoe rentals to customers.

$12/15/2018$ Rented canoes to customers for $$3,500,$ but will be paid next month.

$12/16/2018$ Received a $$750$ deposit from a canoe rental group that will use the canoes next month.

$12/18/2018$ Paid the utilities and telephone bills from last month.

$12/19/2018$ Paid various accounts payable, $$2,000.$

$12/20/2018$ Received bills for the telephone $($$$325)$ and utilities $($$$295)$ which will be paid later. $($Make a compound entry$).$

$12/31/2018$ Paid wages of $$1,800.$

$12/31/2018$ Paid $$300$ of dividends to stockholders.