Sebastian Incorporated had the following balances at the beginning of November. SEBASTIAN INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $2,600 Accounts Receivable 540 Supplies 640 Equipment 8,800 Accounts Payable $1,700 Notes Payable 3,400 Common Stock 6,400 Retained Earnings 1,080 Totals $12,580 $12,580 The following transactions occur in November. November 1 Issue common stock in exchange for $12,400 cash. November 2 Purchase equipment with a long-term note for $2,900 from Hoosier Corporation. November 4 Purchase supplies for $1,000 on account. November 10 Provide services to customers on account for $8,400. November 15 Pay creditors on account, $1,100. November 20 Pay employees $2,400 for the first half of the month. November 22 Provide services to customers for $10,400 cash. November 24 Pay $1,160 on the note from Hoosier Corporation. November 26 Collect $6,400 on account from customers. November 28 Pay $1,100 to the local utility company for November gas and electricity. November 30 Pay $4,400 rent for November. Required: 1. Record each transaction. 2. & 3. Post each 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.) 4. Prepare a trial balance as of November 30.