Donald Reagan started a new business in November of the current year. The following are the business transactions completed by The DR Consulting Company during the month of November. Note: the company uses a perpetual, FIFO cost flow system for inventory. Using the following transactions, record journal entries for The DR Consulting Company. If no journal entry is needed input "No Journal Entry Needed". November 1 Donald Reagan invested $116,000 cash along with office equipment valued at $27,000 in exchange for 11,750 shares of common stock of a new company named The DR Consulting Company. The common stock has a $1 par value/share. November 2 The company purchased a 6-month insurance policy by paying the insurance company $660 cash. November 3 The company purchased land valued at $49,000 and a building valued at $161,000. The purchase is paid with $31,900 cash and a long-term note payable for $178,100. November 5 The company purchased $3,600 of office supplies on credit with terms n/15. November 7 Donald Reagan invested an automobile in the company in exchange for more common stock. The automobile has a value of $20,030. November 9 The company purchased 3,900 units of inventory for $12.04 per unit with terms n/30. November 11 The company paid $3,550 cash salary to an assistant. November 13 The company provided services to a client and collected $6,825 cash. November 14 The shipping cost for the inventory purchase of November 9, was $520 with terms FOB Destination. November 15 The company paid $95 cash for this month's utilities. November 16 The company sold 3,100 units of inventory to Big Al's for $23.00 per unit with terms 2/10,n/30. November 17 The company paid $3,600 cash to settle the account payable created on November 5. November 19 The company purchased $20,000 of new office equipment by paying $20,000 cash. November 20 The company purchased 5,660 units of inventory for $12.12 per unit with terms 1/15,n/30. November 21 The company completed $6,775 of services for a client on credit, who must pay within 30 days. November 22 The shipping costs for the inventory sale of November 16, were $320 with terms FOB Destination. November 23 The company paid $3,550 cash salary to an assistant. November 24 The company received payment from Big Al's for the sale made on November 16. November 25 The company received $3,160 cash in partial payment on the receivable created on November 21. November 26 The shipping cost for the inventory purchase of November 20, was $283 with terms FOB Shipping Point. November 27 The company sold 2,450 units of inventory to Little Matt's for $23.00 per unit for cash. November 30 The shipping costs for the inventory sale of November 27, were $260 with terms FOB Shipping Point. Note: Round all dollar amounts to the nearest whole dollar. Do not round the interim calculations, only round the final answers. View transaction list Journal entry worksheet < 19 10 11 12 13 14 24 November 14: The shipping cost for the inventory purchase of November 9, was $520 with terms FOB Destination. Record the payment of the shipping charges if needed. Note: Enter debits before credits. S.No/Date Nov 14 Account Title Debit Credit Record entry Clear entry View general journal