Problem $2-8$B $($Static$)$ Complete the steps in the measurement of external transactions $($LO$2-4,2-5,2-6)$

Buckeye Incorporated had the following balances at the beginning of November.

$$

BUCKEYE INCORPORATEDTrial BalanceNovember $1$AccountsDebitsCreditsCash$$3,200$Accounts Receivable$600$

$$Supplies$700$

Equipment$9,400$

Accounts Payable$$$$2,000$

Notes Payable$4,000$

Common Stock$7,000$

Retained Earnings$900$

Totals$$13,900$ $$13,900$

The following transactions occur in November.

$$

November $1$ Issue common stock in exchange for $$13,000$ cash.

November $2$ Purchase equipment with a long$-$term note for $$3,500$ from Spartan Corporation.

November $4$ Purchase supplies for $$1,000$ on account.

November $10$ Provide services to customers on account for $$9,000.$

November $15$ Pay creditors on account, $$1,100.$

November $20$ Pay employees $$3,000$ for the first half of the month.

November $22$ Provide services to customers for $$11,000$ cash.

November $24$ Pay $$1,400$ on the note from Spartan Corporation.

November $26$ Collect $$7,000$ on account from customers.

November $28$ Pay $$1,100$ to the local utility company for November gas and electricity

November $30$ Pay $$5,000$ rent for November.

$$

Required:

$1.$ Record each transaction. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

$2.$ & $3.$ 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 $30.$