Required information Problem 2-8B Complete the steps in the measurement of external transactions (L02-4, 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 Teil Balance November 1 Account Debit Credits Cash $ 2,000 Accounts Receivable 480 Supplies 580 Equipment 8,200 Accounts Payable $1,400 Notes Payable 2,800 Common Stock 5,800 Retained Earnings 2,260 Totals $11.260 $1117260 The following transactions occur in November November 1 Issue common stock in exchange for $11.800 cash. November 2. Purchase equipment with a long-tern 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 $7,000. November 15 tay creditors on account. $1,000. November 20 Pay employees 31,800 for the first half of the month. November 22 Provide services to customers for 59,800 cash. November 24 Pay $920 on the note from Spartan Corporation November 26 Collect 95.800 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 2 and 3 2. & 3. Post each transaction to the appropriate Taccounts and calculate the balance of each account at November 30. (Hinat Be sure to include the balance at the beginning of November in each T-account.) 3 Required information Accounts Receivable Cush Beg B Beg Bel End Bal End. Bal Equipment Supplies Beg Bail Beg Bal erences End, Bal End Bal Notes Payable Account Payable Beg Bal Beg B End Bal End. Retained Earning Common Stock Beg Ba Begal End. Bol End Dal Bell En el La