More Info ew corporatio 018 and comp hat rents canoes for L sactions.) the following Avery and Zion contributed land on the river (worth $60,000) and a small building to use as a rental office (worth $200,000) in exchange for Dec. 1 sactions.) common stock. Prepaid $4,800 for three months' rent on the warehouse where the company stores the canoes 1 epaid Rent; Land; Buile se; Wages Expense; a from journal entries 2 Purchased canoes signing a notes payable for $5,280. or both Novem ed Revenue; N ctions refer to t 4 Purchased office supplies on account for $750. 9 Received $4,100 cash for canoe rentals to customers. 15 Rented canoes to customers for $4,000, but will be paid next month. company andi 16 Received a $350 deposit from a canoe rental group that will use the Accounts canoes next month. 18 Paid the utilities and telephone bills from last month. 19 Paid various accounts payable, $1,600. 20 Received bills for the telephone ($290) and utilities ($270) which will be paid later 31 Paid wages of $2,200. 31 Paid cash dividend to stockholders, $700. er in the input fie Done Print More Info aw corporatio 18 and comp - X hat rents canoe actions.) the following actions.) Nov. 1 Received $23,000 cash to begin the company and issued common stock to Avery and Zion. 2 Signed a lease for a building and paid $1,600 for the first month's rent. 3 Purchased canoes for $3,840 on account. 4 Purchased office supplies on account, $1,000. r both Novem ed Revenue; tions refer to t epaid Rent; Land se; Wages Expen s from jounal en 7 Earned $1,700 cash for rental of canoes. 13 Paid $1,300 cash for wages 15 Paid $550 dividends to stockholders. company and 16 Received a bill for $140 for utilities. (Use separate payable account.) 20 Received a bill for $120 for cell phone expenses. (Use separate payable account.) 22 Rented canoes to School's Out on account, $2,700. ccounts 26 Paid $2,400 on account related to the November 3 purchase. 28 Received $1,800 from School's Out for canoe rental on November 22. 30 Paid $600 dividends to stockholders. n the input fie Done Print HW Score: 29.97% , 0.3 of1 CP2-42 (similar to) Question Help Avery and Zion decide that they will create a new business began operations on November 1, 20 rporation, Goiden Lake Company, or GLC for short. Golden Lake Company is a service based company that rents canoes for use on local lakes and rivers. The and completed the following transactions in that first month. (Click the icon to view the November transactions.) (Click the icon to view the transaction analysis chart from November.) In addition, Golden Lake Company completed the following transactions for December. (Click the icon to view the December transactions.) Read the requirements Requirement 1. Jounalize the transactions for both November and December, using the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Rent; Land; Building: Canoes; Accounts Payable; Utilities Payable; Telephone Payable; Unearned Revenue; Notes Payable; Common Stock; Dividends; Canoe Rental Revenue; Rent Expense; Utilities Expense; Wages Expense; and Telephone Expense. Explanations are not required. (Hint For November transactions refer to the transaction analysis chart for November.) (Record debits first, then credits. Exclude explanations from jourmal entries.) 1Nov. 1: Received $23,000 cash to begin the company and issued common stock to Avery and Zion. Debit Credit Date Accounts 23,000 Cash Nov. 1 23,000 Common Stock Choose from eny list or enter any number in the input fields and then click Check Answer. Check Answer Clear All parts remaining 12 Show All