File Edit View Favorites Tools Help Text Problem 2-3A Hide the text assignment Print the text assignment obj. 1, 2, 3, 4 PR 2-3A Joumal entries and trial balance On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Now. 1. Kiris transferred cash from a personal bank account to an account to be used for the business in exchange for cammon stock, $36,000 1. Paid rent for period of November 1 to end of month, $4,000. d Purchased office equipment on account, $16,000 8 Purchased a truck for $43,000 paying $4,300 cash and giving a note payable for the remainder. 10. Purchased supplies for cash, $1,860 12 Received cash for job completed, $8,000. 15. Paid annual premiums on property and casualty insurance, $2,400 23. Rescorded jolbs completed on account and sent invoices to customers, $15,500 24. Received an inwoice for truck expenses, to be paid in November, $1,250. Enier the folloutng mansactions on Page 2 of tbe tuo-column journal Paid utlities expense, $3,660. 29 29. Paid miscellaneous expenses, $1,700. 30. Recelved cash from customers on account, $10,500. 0 Paid wages of emplayees, S4,750 Paid aedhor a portion of the amount owed for equipment purchased on November 6, $4,000. 30. Paid dividends, $1,600. 1. Journalize each transaction in a two-column journal beginning on Page owing chart of accounts in selecting the accounts to be debited and credited. ( the account numbers in the journal at this time.) Explanations 1, referring to the fol- Do not insert 11 Cash may be omitted. 31 Common Stock 33 Dividends 41 Fees Eaned 51 Wages Expense 53 Rent Expense 13 Supplies 4 Prepaid Insurance 18 Trudk 22 Accounts Payable S Truck Expense 2. Post the rural to a ledger of tou-counnn accounts, inserting appropriate posting references y rash hen is posted. Rsternd the balances to the appropriate balance columns after each transaction is posted. Prepare an unadjpsted trial balance for 5. Modern Designs as of November 30, 2018. of revenues over expenses for November. Can you think of any reason why the amount determined in (4) reason