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. BUCKEYE INCORPORATED Trial Balance November 1 Accounts Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings Totals Debits Credits $ 2,300 510 610 8,500 $ 1,550 3,100 6,100 1,170 $11,920 $11,920 The following transactions occur in November. November 1 Issue common stock in exchange for $12,100 cash. November 2 Purchase equipment with a long-term note for $2,600 from Spartan Corporation. November 4 Purchase supplies for $1,000 on account. November 10 Provide services to customers on account for $8,100. November 15 Pay creditors on account, $1,100. November 20 Pay employees $2,100 for the first half of the month. November 22 Provide services to customers for $10,100 cash. November 24 Pay $1,040 on the note from Spartan Corporation. November 26 Collect $6,100 on account from customers. November 28 Pay $1,100 to the local utility company for November gas and electricity. November 30 Pay $4,100 rent for November, www November 24 Pay $1,040 on the note from Spartan Corporation. November 26 Collect $6,100 on account from customers. November 28 Pay $1,100 to the local utility company for November gas and November 30 Pay $4,100 rent for November. Problem 2-8B Part 4 4. Prepare a trial balance as of November 30. BUCKEYE INCORPORATED Accounts Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings Trial Balance November 30 Debit Credit Service Revenue Salaries Expense Utilities Expense Rent Expense Totals $ 510 $ S < Prev 4 of 4 Nex OHITIN