November 2 The business signed a lease for an office space in Berks Shopping Plaza at $600 per month. Rent

is due at the end of the month. Checks are payable to BSP Properties, LLC.

November 2 Rented a van from Auto Rentals. Rentals are $700 per month. Paid $2,800 advance rent on signing

a contract with the Auto Rentals.

November 2 Purchased merchandise inventory from Madison Supply Company for $10,000 on account. Credit

terms are 2/20, n/45.

Journal Entries