Problem 2-8B (Algo) Complete the steps in the measurement of external transactions

Post each transaction to the appropriate T-Accounts and calculate the balance of each account at November 30.

Ravens Incorporated had the following balances at the beginning of November. The following transactions occur in November. November 1 Issue common stock in exchange for $11,900 cash. November 2 Purchase equipment with a long-term note for $2,400 from spartan Corporation. November 4 Purchase supplies for $1,100 on account. November 10 Provide services to customers on account for $7,900. November 15 Pay creditors on account, $1,200. November 20 Pay employees $1,900 for the first half of the month. November 22 Provide services to customers for $9,900cash. November 24 Pay $960 on the note from Spartan Corporation. November 26 Collect $5,900 on account from customers. November 28 Pay $1,200 to the local utility company for November gas and electricity. November 30 Pay $3,900 rent for November