P2.6B (LO 2, 3, 4) AP Kiersted Financial Services was formed on November 1, 2021. During the month of November, the following events and transactions occurred: Nov. 1 Haakon Kiersted, the owner, invested $35,000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12.000. 2 Hired one employee to work in the office for a monthly salary of $2,825. 3 4 5 6 7 Pure Signed a three-year contract to lease office space for $2.140 per month. Paid the first and Signed a three-year contract to last month's rent in cash. (Hint: The payment for the final month's rent should be consid ered an asset and be recorded in Prepaid Rent.) Purchased a one-year insurance policy for $4,740 to be paid in monthly instalments. Paid the first month's premium. Purchased additional equipment for $18,000. Paid $6,000 cash and signed a note payable for the balance. Purchased supplies for $1,550 on account. Purchased additional supplies for $475 cash. Completed services for a customer and immediately collected $990. Completed services for two customers and billed them a total of $4,500. Paid $1,000 for the supplies purchased on account on November 6. The telephone bill for November was $220. It will be paid in December Received a $750 cash advance from a customer for services to be provided in December Collected $2,800 from one of the customers billed on November 20. Paid $60 interest on the note payable. Paid the employee's monthly salary, $2,825. Paid Haakon Kiersted $700 for his personal use. Paid Sony Ltd. for a new sound system for Haakon's home, $1,150 cash. 20 26 27 27 Renais 29 30 30 30 30 Instructions a. Prepare journal entries to record the transactions. b. Post the journal entries to T accounts. c. Prepare a trial balance as at November 30, 2021. and