er researching the different forms of business organization. Sheffield Koebel decides to operate "Cookie Creations" as a prietorship. She then starts the process of getting the business running. In November $2021,$ the following activities take p

ov$.8$ Sheffield cashes her U$.$S$.$ Savings Bonds and receives $$620,$ which she deposits in her personal bank account.

$8$ She opens a bank account under the name "Cookie Creations" and transfers $$600$ from her personal account to $t$ account.

$11$ Sheffield pays $$80$ for advertising.

$13$ She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $$150$ cash. $($Hint: Use Supplies accou

$14$ Sheffield starts to gather some baking equipment to take with her when teaching the cookie classes. She has an ex top$-$of$-$the$-$line food processor and mixer that originally cost her $$900.$ Sheffield decides to start using it only in he business. She estimates that the equipment is currently worth $$360.$ She invests the equipment in the business.

$16$ Sheffield realizes that her initial cash investment is not enough. Her grandmother lends her $$2,400$ cash, for which Sheffield signs a note payable in the name of the business. Sheffield deposits the money in the business bank accou $($Hint: The note does not have to be repaid for $24$ months. As a result, the note payable should be reported in the ac as the last liability and also on the balance sheet as the last liability.$)$

Question $1$ of $1$

$17$ She buys more baking equipment for $$1,080$ cash.

$20$ She teaches her first class and collects $$150$ cash.

$25$ Sheffield books a second class for December $4$ for $$180.$ She receives $$40$ cash in advance as a dov

$30$ Sheffield pays $$1,580$ for a one$-$year insurance policy that will expire on December $1,2022.$

$($a$)$

Your answer is correct.

Prepare journal entries to record the November transactions. $($List all debit entries before credit entries. Credit c automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for