Exercise 2-11 Presented below is the ledger for Higgs Co. 10/1 10/10 10/10 10/20 600 1,340 350 140 10/25 590 Cash No. 101 5,400 10/4 620 10/12 2,300 10/15 540 10/30 2,600 10/31 Accounts Receivable No. 112 730 10/20 670 Supplies No. 126 600 Equipment No. 157 2,400 540 10/6 10/20 10/4 10/3 2,300 10/12 2,400 Notes Payable No. 200 10/10 Accounts Payable No. 201 1,340 10/3 Common Stock No. 311 10/1 10/25 Dividends No. 332 5,400 2,600 10/30 140 730 Service Revenue No. 400 10/6 10/10 10/20 Salaries and Wages Expense No. 726 620 670 10/31 590 Rent Expense No. 729 10/15 350 Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20 and provide explanations for each. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Oct. 1 (Issued shares of stock for cash) Oct. 10 (Received cash for services provided) Oct. 10 (Obtained loan from bank) Oct. 20 (Received cash in payment of account) Oct. 20 (Billed clients for services provided) Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015. HIGGS CO. Trial Balance October 31, 2015 Debit Credit