Current Attempt in Progress In November 2023, after having incorporated Cookie Creations inc. Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead. She will focus on offering cooking classes. The following events occur. Nov. 8 Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. 8 Natalie opens a bank account for Cookie Creations Inc. 8 Cookie Creations sells common stock to Natalie for $500 11 Cookie Creations purchases paper and other office supplies for \$9.5. (Use Supplies.) 14 Cookie Creations pays $125 to purchase baking, supplies, such as flour, sugar butter, and chocolate chips. (Use Supplies.) 15 Natalie starts to gatnen some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processonand mixer that orignally cost her $550 : Natalie decides to start using it only in her new business. She estimates that the equipmentis currently worth $300 and she transfers the equipment into the business in exchange for ad ditional common stock. (Treat this transaction as an $300 exchange of common stock for equipment.) 16 The company needs more cash to sustainits operations. Natalis grandmother lends the company $2,000 cash. in exchange for a two-year, 9% note payable Interest and the principal are repayable at maturity. 17 Cookie Creations pays $900 for additional baking:equipment: 18 Natalie schedules her firstidass fon vovember 29 , she will receive $100 on the date of the class. 25 Natalie books a second class for Dcember 5 for $1.50 : She receives a $60 cash down payment, in advance. 29 Natalieteaches her first class, booked on November 8 and collects the $100 cash: 30 Natalis brother develops a websitefor Gookiecreations inc that the company will use for advertising. He charges the company $600 for his work, payable at the end of December. (Because the website is expected to have a usefullife of two years before upgrades are needed, it should be treated as an asset called Website) 30 Cookie Creations pays $1.200 for a one-year insurance policy. 30 Natalie teaches a group of elementary school students how to make/ Lanta Claus cookies. At the end bf the class. Natalie leaves an invoice for $300 with the schiool principal. Thie principal says that he will pass it al ong to the busines office and it will be paid some time in December. 30 Natalie receives a $50 invoice fon use of her cell phone. She uses the cell phne exclusively for cooki edreations inc business. The invoice is for services provided in November and payment is due on December 15 . Prepare fournal entries to record the November transactions. (Credit occount titles ore outomatically indented when the amount is