Current Attempt in Progress In November 2023, after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead, she will focus on offering cooking classes. The following events occur. Nov. 8 8 8 11 14 15 16 17 18 Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. Natalie opens a bank account for Cookie Creations Inc. Cookie Creations sells common stock to Natalie for $500. Cookie Creations purchases paper and other office supplies for $95. (Use Supplies.) Cookie Creations pays $125 to purchase baking supplies, such as flour, sugar, butter, and chocolate chips. (Use Supplies.) Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $550. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300, and she transfers the equipment into the business in exchange for additional common stock. (Treat this transaction as an $300 exchange of common stock for equipment.) The company needs more cash to sustain its operations. Natalie's grandmother lends the company $2,000 cash, in exchange for a two-year, 9% note payable. Interest and the principal are repayable at maturity. Cookie Creations pays $900 for additional baking equipment. Natalie schedules her first class for November 29. She will receive $100 on the date of the class.

In November 2023, after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead, she will focus on offering cooking classes. The following events occur Nov. 8 Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. 8 Natalie opens a bank account for Cookie Creations inc. 8 Cookie Creations sells common stock to Natalie for $500. 11 Cookie Creations purchases paper and other office supplies for \$95. (Use Supplies) 14 Cookie Creations pays $125 to purchase baking supplies, such as flour, sugar, butter, and chocolate chips. (Use Supplies.) 15 Natalie starts to gather some baking equipment to take with her when teaching the cookie classes, She has an excelient top-of - the-line food processor and miker that originally cost her $550. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300, and she transfers the equipment into the business in exchange for additional common stock. (Treat this transaction as an $300 exchange of common stock for equipment.) 16 The company needs more cashto sustain its operations. Natalie's grandmother lends the company $2,000 cash, in exchange for a two-year, 9% note payable. Interest and the principal are repayable at maturity. 17 Cookie Creations paiys $900 for additional baking equipment. 18 Natalie schedules her first class for November 29 . She will receive $100 on the date of the class 18 Natalie schedules her first class for November 29 . She will receive $100 on the date of the class. 25 Natalie books a second class for December 5 for $150, she receives a $60 cash down payment, in advance. 29 Natalie teaches her first class, booked on Novemiber 18 , and collects the $100cash. 30 Natalie's brother develops a website for Cookie Creations Inc, that the company will use for advertising He charges the company $600 for his work, payable at the end of December. (Because the welsite is expected to have a useful life of two years before upgrades are needed, it should bo treated as an asset called Website.) 30 Cookie Creations pays $1,200 for a one-yoar insurance policy. 30 Natalie teaches a group of elementary school students how to make Santa Claus coolies. At the end of the class, Natalie leaves an imvolce for $300 with the school principal. The principal says that he wal pass it alone to the business office and it will be paid some time in December. o0 Nataile recetves a $50 invoice for use of her cell phone. She uses the cell phone exclusively for Cookle Creations inc. buiness. The involice is for services provided in Nowember, and payment is due on December 15. (a) Prepare journstentries to record the November transactions. CGedit account tilles are automatically indented when the amount is entered. Do not indent manually. Recond journal entries in the order presented in the probiem. If no entry is