Record the following transactions in the general journal and post them to the general ledger. Nov. 1 Purchase equipment on account $100,000 with cash Nov. 3 incurred a $100,000 Loan, billing period starting in December Nov. 5 Sold 40% equity to a new owner for $200,000 Nov. 9 Received the phone bill, $150 Nov. 12 Collected $500 of the amount due from Taylor Golf Nov. 18 Collected $800 of the amount due from Taylor Golf Nov. 20 Purchased a fax machine for the office from Multi Systems, Inc., on credit, $450.00 Nov. 30 Month-end close entry, Life of equipment purchased on Nov 1. Is ten years. Record monthly depreciation expense of $833

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