On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transactions related to the business:

Nov. 1. Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $50,000. 1. Paid rent for period of November 1 to end of month, $4,000. 6. Purchased office equipment on account, $15,000. 8. Purchased a truck for $38,500 paying $5,000 cash and giving a note payable for the remainder. 10. Purchased supplies for cash, $1,750. 12. Received cash for job completed, $11,500. 15. Paid annual premiums on property and casualty insurance, $2,400. 23. Recorded jobs completed on account and sent invoices to customers, $22,300. 24. Received an invoice for truck expenses, to be paid in November, $1,250. Enter the following transactions on Page 2 of the two-column journal:

29. Paid utilities expense, $4,500. 29. Paid miscellaneous expenses, $1,000. 30. Received cash from customers on account, $9,000. 30. Paid wages of employees, $6,800. 30. Paid creditor a portion of the amount owed for equipment purchased on November 6, $3,000. 30. Paid dividends, $2,500.

1.Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted.