November 1,19_, Ken Ryan organized Continental Moving Company. The transactions occurring during the first month of operations were as follows:

Nov 1: Ryan deposited $400,000 cash in a bank account in the name of the business

Nov 2: Purchased land for $170,000 and buildingfor $360,000, paying$130,000 cash and signinga $400,000 notes payable to secure MortgageCompany bearinginterestat 9%

Nov 3: Purchased six trucks from Willis Motors at a total cost of $432,000. A cash down payment of $200,000 was made, and a notes payable was issued for the balance of the purchase price.

Nov 6: Purchased office equipment for cash $24,000.

Nov 6: Moved furniture for Mr and Mrs Don Fitch from New York to Los Angeles for $8650. Collected $4850 in cash, balance to be paid within 30 days(credit moving service revenue).

Nov 9: Moved furniture for various clients for $32,350. Collected $18,350 in cash, balance to be paid within 30 days.

Nov 15: paid salaries to employees for the first half of the month, $17,400.

Nov 25: Moved furniture for various clients for a total of $27000. Cash collected in full.

Nov 30: Salaries paid for the second half of November amounted to $13,250.

Nov 30: Received a gasoline bill for the month of Novemberfrom Lucier Oil Company in the amount of $17,500, to be paid by December 10.

Nov 30: Received bill of $1250 for repair work on trucks during November by Newport Repair Company. Payment is due within 30 days.

Nov 30: Paid $5000 to Secure Mortgage company. This $5000 payment included $3000 interest expense for Novemberand a $2000 reduction in the balance of the note payable issued on November 2.

Nov 30: Ryan withdrew $4000 cash from the business for his personal use.

Estimated useful life of the building is 20 years, trucks 4 years, and office equipment 10 years. The account titles to be used and the account numbers are as follows

Instructions

journal enteries.

Post to ledger account.

trial balance at November 30,19_.

Adjusted trial balance at November 30.

income statement and owners equity,and a balance sheet in report form at November 30.

closing enteries.

after-closing trial balance.