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with the information below calculate general journal, T-account and trial balance Sebastian Incorporated had the following balances at the beginning of November. The following transactions
with the information below calculate general journal, T-account and trial balance
Sebastian Incorporated had the following balances at the beginning of November. The following transactions occur in November. November 1 Issue common stock in exchange for $11,200cash. November 2 Purchase equipmer't with a long-term note for $1,700 from Hoosier Corporation. November 4 purchase supplies for $1,200 on account. November 10 Provide services to customers on account for $7,200. November 15 Pay creditors on account, $1,000. November 22 ay employees $1,200 for the first half of the month. November 24 rovide services to customers for $9,200cash. November 26 ay $680 on the note from Hoosier Corporation. November 28 collect $5,200 on account from customers. November 30 Pay $1,000 to the local utility company for November gas and electricity. 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 . Complete this question by entering your answers in the tabs below. Record each transaction. (If no entry is required for a particular transactionvevent, select "No Journal Entry Required" in the first account field.) Journal entrv worksheet Note: Enter debits before credits. Prepare a trial balance as of November 30 Step by Step Solution
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