Buckeye Incorporated had the following balances at the beginning of November 540 BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 2,600 Accounts Receivable Supplies 640 Equipment 8,800 Accounts Payable $ 1,700 Notes Payable 3,400 Common Stock 6,400 Retained Earnings 1,089 Totals $12,580 $12,580 The following transactions occur in November November 1 Issue common stock in exchange for $12,400 cash. November 2 Purchase equipment with a long-term note for $2,900 from Spartan Corporation. November 4 Purchase supplies for $1,800 on account. November 10 Provide services to customers on account for $8,400. November 15 Pay creditors on account, $1,100. November 20 Pay employees $2,400 for the first half of the month. November 22 Provide services to customers for $10,400 cash. November 24 Pay $1,160 on the note from Spartan Corporation. November 26 Collect $6,480 on account from customers. November 28 Pay $1,180 to the local utility company for November gas and electricity. November 30 Pay $4,400 rent for November. Check my work 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at November 30, (Hint: Be sure to include the balance at the beginning of November in each T-account.) Cunha Account Receivable Beg Bal Beg. Bal November 1 November 22 November 25 12,400 10,400 6,400 1.100 November 15 2.400 November 20 1,160 November 24 1.100 November 28 4,400 November 30 End, Bal End Bal Supplies Equipment Beg Bat Beg Bal End. Bal End. Bal. Accounts Payable Notes Payable Beg Bal Beg Bal End. Bol End, Bal Check my work Required information Common Stock Beg Bal Beg Bal End, Bal End, Bal Service Revenue Salaries Expens Beg Bat Beg Bal End. Bal End. Bal Utilities Expenso Rent Expanse Beg. Bal Beg. Bat. End, Bal End. Bal