Buckeye Incorporated had the following trial balance at the beginning of November.

The following transactions occur in November.
November 1 ..............Issue common stock in exchange for $12,000 cash.
November 2 .............Purchase equipment with a long-term note for $2,500 from Spartan Corporation.
November 4 ..............Purchase supplies for $1,200 on account.
November 10 ............Provide services to customers on account for $8,000.
November 15 ............Pay creditors on account, $1,000.
November 20 ............Pay employees $2,000 for the first half of the month.
November 22 ............Provide services to customers for $10,000 cash.
November 24 ............Pay $1,000 on the note from Spartan Corporation.
November 26 ............Collect $6,000 on account from customers.
November 28 ..........Pay $1,000 to the local utility company for November gas and electricity.
November 30 ............Pay $4,000 rent for November.
Required:
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at November 30.
4. Prepare a trial balance as of November 30?

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BUCKEYE INCORPORATED Trial Balance Accounts Debits Credits Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Common Stock Retained Earnings $2,200 500 600 8,400 $1,500 3,000 6,000 1,200