Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $1,400 Accounts Receivable 420 Supplies 520 Equipment 7,600 Accounts Payable $ 1,100 Notes Payable 2,200 Common Stock 5,200 Retained Earnings 1,440 Totals $9,940 $ 9,940 The following transactions occur in November. November 1 Issue common stock in exchange for $11,200 cash. November 2 Purchase equipment with a long-term note for $1,700 from Spartan Corporation. November 4 Purchase supplies for $1,200 on account. November 10 Provide services to customers on account for $7,200. November 15 Pay creditors on account, $1,000. November 20 Pay employees $1,200 for the first half of the month. November 22 Provide services to customers for $9,200 cash. November 24 Pay $680 on the note from Spartan Corporation. November 26 Collect $5,200 on account from customers. November 28 Pay $1,000 to the local utility company for November gas and electricity. November 30 Pay $3,200 rent for November. Problem 2-8B Part 4 4. Prepare a trial balance as of November 30. BUCKEYE INCORPORATED Trial Balance November 30 Accounts Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Rent Expense Totals $ 05