Problem 2-8B Complete the steps in the measurement of external transactions (LO2-4,2-5, 2-6) [The following information applies to the questions displayed below.) Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 3,000 Accounts Receivable 580 Supplies 680 Equipment 9,200 Accounts Payable $ 1,900 Notes Payable 3,800 Common Stock 6,800 Retained Earnings Totals $13,460 $13,460 The following transactions occur in November. November 1 Issue common stock in exchange for $12,800 cash. November 2 Purchase equipment with a long-term note for $3,300 from Spartan Corporation. November 4 Purchase supplies for $1,100 on account. November 10 Provide services to customers on account for $8,800. November 15 Pay creditors on account, $1,200. November 20 Pay employees $2,800 for the first half of the month. November 22 Provide services to customers for $10,800 cash. November 24 Pay $1,320 on the note from Spartan Corporation. November 26 Collect $6,800 on account from customers. November 28 Pay $1,200 to the local utility company for November gas and electricity. November 30 Pay $4,800 rent for November. provide serve the notent from Problem 2-8B Part 2 and 3 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.) Cash Accounts Receivable Beg, Bal. Beg. Bal. November 1 November 22 November 26 12,800 10,800 5,000 T L End. Bal. + End. Bal. Supplies Equipment Beg. Bal. Beg Bal End. Bal. End. Bal. Required information Accounts Payable Notes Payable Beg. Bal. Beg. Bal. End. Bal End. Bal. Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. End. Bal Service Revenue Salaries Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilities Expense Rent Expense DO End. Bal. Utilities Expense Rent Expense Beg. Bal. 1 Beg. Bal. End. Bal. End. Bal