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

Required information 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. 480 BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 2,000 accounts Receivable Supplies 580 Equipment 8,200 Accounts Payable $ 1,400 Notes Payable 2,800 Common Stock 5,800 Retained Earnings 1,260 Totals $11,260 $11,260 es The following transactions occur in November. November 1 Issue common stock in exchange for $11,800 cash. November 2 Purchase equipment with a long-term note for $2,300 from Spartan Corporation. November 4 Purchase supplies for $1,200 on account. November 10 Provide services to customers on account for $7,800. November 15 Pay creditors on account, $1,000. November 20 Pay employees $1,800 for the first half of the month. November 22 Provide services to customers for $9,800 cash. November 24 Pay $920 on the note from Spartan Corporation. November 26 Collect $5,800 on account from customers. November 28 Pay $1,000 to the local utility company for November gas and electricity, November 30 Pay $3,800 rent for November. Problem 2-8B Part 4 4. Prepare a trial balance as of November 30. Credit BUCKEYE INCORPORATED Trial Balance November 30 Accounts Debit Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Rent Expense Totals