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The following information applies to the questions displayed belowj Buckeye Incorporated had the following trial balance at the beginning of November. BUCKEYE INCORPORATED Trial Balance
The following information applies to the questions displayed belowj Buckeye Incorporated had the following trial balance at the beginning of November. BUCKEYE INCORPORATED Trial Balance Debits Credits Accounts $1,600 Cash Accounts Receivable 440 Supplies 540 7800 Equipment 1,200 Accounts Payable Notes Payable 2,400 Common Stock 5,400 1,380 Retained Earnings The following transactions occur in November: November 1 Issue common stock in exchange for $11,400 cash November 2 Purchase equipment with a long-term note for $1,900 from Spartan Corporation November 4 Purchase supplies for $1,000 on account. November 10 Provide services to customers on account for $7,400. November 15 Pay creditors on account, $1100. November 20 Pay employees $1,400 for the first half of the month November 22 Provide services to customers for $9400 cash. November 24 Pay $760 on the note from Spartan Corporation November 26 Collect $5.400 on account from customers. November 28 Pay $1,100 to the local utility company for November gas and electricity 30 Pay $3,400 rent for November
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