the appropriate documents Use the chart of accounts to help you identify the right account The Process of Recording Transactions After researching the different forms of business organization you decide to open a bakery as a sole proprietorship. Then, you st understand that you will not be able to open the store right away, but you need to generate some income. You decide to cater co following activities take place Nov. 8 8 11 13 14 You cash your US Savings Bonds and receive $520, which you deposit in your personal bank account You open a bank account under the chosen business name and transfer $500 from your personal account to the ne You pay $65 for advertising supplies You buy supplies, such as flour, sugar, butter, and fruit for $425 cash (Hint: Use Supplies account You start to gather some equipment. You have an excellent top-of-the-line mixer that originally cost you $750. You c that the equipment is currently worth $300. You invest the equipment in the business 16 You realize that your initial cash investment is not enough Your parents lend you $2.500 cash for which you sign a i money in the business bank account. Hint. The note does not have to be repaid for 24 months As a result, the note payable should the balance sheet as the lest liability) You buy more baking equipment for $1,200 sh 17 20 You collect $125 cash from a small event 23 You receive an electric bill for $125 which is due in three weeks 25 30 You book a party for December 4 for $150 You receive $30 cash in advance as a down payment You pay $1.320 for a one-year insurance policy that will expire on December 1, 2022 Requirements for part A 1. Prepare journal entries to record the November transactions. If no entry is required, indicate why 2. Post the journal entries to the general ledger accounts 3. Prepare a trial balance for November 30, 2021 Templates Templates Lalsx + Student Aveotation Upload Stud Google Drive Google Drive 43+ X #3 54 t % 25 6 2 7 8 9