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Problem 2-8B (Algo) Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) Blackhawks Incorporated had the following balances at the beginning of
Problem 2-8B (Algo) Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) Blackhawks Incorporated had the following balances at the beginning of November. The following transactions occur in November. November 1 Issue common stock in exchange for $12,600 cash. November 2 Purchase equipment with a long-term note for $3,100 from Spartan Corporation. November 4 Purchase supplies for $1,200 on account. November 10 Provide services to customers on account for $8,600. November 15 Pay creditors on account, $1,000. November 20 Pay employees $2,600 for the first half of the month. November 22 Provide services to customers for $10,600 cash. November 24 Pay $1,240 on the note from Spartan Corporation. November 26 Collect $6,600 on account from customers. November 28 Pay $1,000 to the local utility company for November gas and electricity. November 30 Pay $4,600 rent for November. Required: 1. Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2. \& 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at November 30. (Hint: Be sure to include the balance at the beginning of November in each T-account.) 4. Prepare a trial balance as of November 30 . Complete this question by entering your answers in the tabs below. Post each transaction to the appropriate T-accounts and calculate the balance of each account at November 30 . (Hint: Be the include the of November in each T-account.) >
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