Dafe Transaction Nov, 2 Mase cash sales of 53.400 ; the cost of the imvenary sold was $2.040 3 Purchased 5900 of imventory for cash. 5 Sold an unused 1/2 ocre of land for $4,009, the land tad onginaly cost $3,650 8 Purchased a 2 year comprehensive insurance polcy for 5528 . 12 Leased an unused portion of ts bulding to WebbCo, colecting 0 months' rent in advance at $220 per rounth 13. Made 52,300 of sales on credit to Lauren Company; the cost of the inventory sold was 51,400 16. Collected the $200 monthly payment plus 530 interest on a customer's note feceivable 17 Purchased 51,600 of inwentory on credit trom Katy Company 20 Purchased land for a future building ste. Made a $2,000 down payment and signed a 12\%, 90-day. $5,000 note payabie for the baiance 23 Colected the Lauron Company account for the Novembet 13 sale. 26 Paid for the November 17 purchase of imventory. 27 Paid the city newspaper 5420 for advertising that had appeared ducing November: 30 Paid 5520 of sales sataries and $390 of offce salaties. Required: Propure general journal entries to record the preceding transactions Post to general ledger T-accounts: Prepare a tral balance on November 30. Journal Entries, Posting, and Trial Balance Instructions Luke Unlimited Company's account balances on November 1 are as follows: Dafe Transaction Nov, 2 Mase cash sales of 53.400 ; the cost of the imvenary sold was $2.040 3 Purchased 5900 of imventory for cash. 5 Sold an unused 1/2 ocre of land for $4,009, the land tad onginaly cost $3,650 8 Purchased a 2 year comprehensive insurance polcy for 5528 . 12 Leased an unused portion of ts bulding to WebbCo, colecting 0 months' rent in advance at $220 per rounth 13. Made 52,300 of sales on credit to Lauren Company; the cost of the inventory sold was 51,400 16. Collected the $200 monthly payment plus 530 interest on a customer's note feceivable 17 Purchased 51,600 of inwentory on credit trom Katy Company 20 Purchased land for a future building ste. Made a $2,000 down payment and signed a 12\%, 90-day. $5,000 note payabie for the baiance 23 Colected the Lauron Company account for the Novembet 13 sale. 26 Paid for the November 17 purchase of imventory. 27 Paid the city newspaper 5420 for advertising that had appeared ducing November: 30 Paid 5520 of sales sataries and $390 of offce salaties. Required: Propure general journal entries to record the preceding transactions Post to general ledger T-accounts: Prepare a tral balance on November 30. Journal Entries, Posting, and Trial Balance Instructions Luke Unlimited Company's account balances on November 1 are as follows
