Problem 2-8B Complete the steps in the measurement of external transactions (1.02 - 4, 2.5, 2.6)

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 580 BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 2,000 Accounts Receivable 480 Supplies Equipment 8,200 Accounts Payable $ 1,400 Notes Payable 2,000 Common Stock 5,800 Retained Earnings 1,260 Totals $11,260 $11,260 The following transactions occur in November, November 1 Tenue common stock in exchange for $11,800 cash. November 2 Purehase 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 Novenber gas and electricity. November 30 Pay $3,800 rent for November. Required information 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 End. Bal. End. Bal. Supplies Equipment 5 Beg. Bal Beg Bal End. Bal End. Bal Accounts Payable Notes Payable Beg. Bal. Beg. Bal End. Bal. End. Bal Required information wur w Retained Earnings Common Stock Beg. Bal Beg Ball End. Bal. End. Bal Salaries Expense Service Revenue Beg Bal. Beg. Bal End. Bal. End, Bal Rent Expense Utilities Expenso Beg. Bal Beg Bal End. Bal. End. Bal