Question 13 of 13 < > View Policies Current Attempt in Progress -/1 E : After researching the different forms of business organization. Natalie Koebel decides to operate "Cookie Creations" as a proprietorship. She then starts the process of operating the business. In November 2022, the following activities take place. Nov. 8 Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. 8 She opens a bank account under the name "Cookie Creations" and transfers $500 from her personal account to the new account. 11 Natalie pays $55 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $130 cash. (Hint: Use the Supplies account.) 14 Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $650. Natalie decides to start using it only in her new business. She estimates that the mixer is currently worth $435. She invests the mixer as equipment in the business. 16 Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash, for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the Cusiness bank account. (Hint: The note does not have to be repaid for 24 months. As a result, the note payable should be reported in the accounts as the last liability and also on the balance sheet as the last liability.) 17 She buys more baking equipment for $940 cash. 20 She teaches her first class and collects $120 cash. 25 Natalie withdraws $110 from the business for personal expenditures. 30 Natalie pays $1,250 for a one-year insurance policy that will expire on December 1, 2023. Prepare journal entries to record the November transactions. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record Journal entries in the order displayed in the problem.) Date Account Titles and Explanation Hyperspace-Product... (To record cash deposited in personal bank account) (To record amount transferred from personal account to Cookie Creations account) Debit Credit