e P2.6B (LO 2, 3, 4) AP Kiersted Financial Services was formed on November 1, 2021. During the month of November, the following events and transactions occurred: Journalize transactions, post, and prepare trial balance. Nov. 1 2 es 3 4 5 6 7 16 Haakon Kiersted, the owner, invested $35.000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12,000. Hired one employee to work in the office for a monthly salary of $2,825. Signed a three-year contract to lease office space for $2.140 per month. Paid the first and last month's rent in cash. (Hint: The payment for the final month's rent should be considered an asset and be recorded in Prepaid Rent.) Purchased a one-year insurance policy for $4.740 to be paid in monthly instalments. Paid the first month's premium. Purchased additional equipment for $18,000. Paid $6,000 cash and signed a note payable for the balance. Purchased supplies for $1.550 on account. Purchased additional supplies for $475 cash. Completed services for a customer and immediately collected S990. Completed services for two customers and billed them a total of $4.500. Paid $1.000 for the supplies purchased on account on November 6. The telephone bill for November was $220. It will be paid in December. Received a $750 cash advance from a customer for services to be provided in December Collected $2,800 from one of the customers billed on November 20 Paid $60 interest on the note payable. Paid the emplovee's monthly salary, $2,825 Aa 510 20 26 27 27 29 30 30 e R in 2010 harvaad 20 20 . . ue asset and be recorded in Prepaid Rent.) 4 Purchased a one-year insurance policy for $4,740 to be paid in monthly instalments. Paid the first month's premium. 5 Purchased additional equipment for $18,000. Paid $6,000 cash and signed a note payable for the balance. 6 Purchased supplies for $1,550 on account. 7 Purchased additional supplies for $475 cash. 16 Completed services for a customer and immediately collected $990. Completed services for two customers and billed them a total of $4.500. 26 Paid $1,000 for the supplies purchased on account on November 6. 27 The telephone bill for November was $220. It will be paid in December. Received a $750 cash advance from a customer for services to be provided in December. 29 Collected $2,800 from one of the customers billed on November 20. 30 Paid $6o interest on the note payable. 30 Paid the employee's monthly salary, S2,825. 30 Paid Haakon Kiersted $700 for his personal use. 30 Paid Sony Ltd. for a new sound system for Haakon's home. $1,150 cash. Instructions a. Prepare journal entries to record the transactions, b. Post the journal entries to T accounts. c. Prepare a trial balance as at November 30, 2021. 27