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 Debits Credits Cash $1,400 Accounts Receivable Supplies 520 Equipment 7,600 Accounts Payable Notes Payable 2,202 Common Stock 5,202 Retained Earnings Totals 420 $1,100 $9,940 9,940 The following transactions occur in November November 1 Issue common stock in exchange for $11,288 cash. November 2 Purchase equipment with a long-term note for $1,700 from Spartan Corporation. November 4 Purchase supplies for $1,280 on account. November 19 Provide services to customers on account for $7,200. November 15 Pay creditors on account, $1,000. November 20 Pay cnployees $1,200 for the first half of the month. November 22 Provide services to customers for $9,200 cash. November 24 Pay $682 on the note from Spartan Corporation. November 25 Collect $5,202 on account from customers. November 28 Pay $1,202 to the local utility company for November gas and electricity. November 30 Pay $3,200 rent for November. Problem 2-8B Part 2 and 3 2. & 3. Postesch 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 Beg. Bal Beg. Bal End. Bal. End. Bal Accounts Payable Notes Payable Beg. Bal Beg. Bal End. Bal. End. Bal Common Stock Retained Earnings 2. & 3. Post esch 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 Beg. Bal Beg. Bal End. Bal End. Bal. Accounts Payable Notes Payable Beg. Bal Beg. Bal End, Bal End. Ball Common Stock Retained Earning Beg. Bal Beg. Bal End. Bal End. Bal. Service Revenue Salaries Expense Beg. Bal Beg. Bal End. Bal End. Bal. Utilities Expense Rent Expense Beg. Bal Beg. Bal End. Bal. End. Bal BUCKEYE INCORPORATED Trial Balance November 30 Accounts Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Rent Expense Totals S 0 $ 0