Answer:
Explanation:
November 1 Issue common stock in exchange for $13,000 cash.
Debit Cash 13,000
Credit Common Stock 13,000
November 2 Purchase equipment with a long-term note for $4,300 from Spartan Corporation.
Debit Equipment 4,300
Credit Note Payable 4,300
November 4 Purchase supplies for $2,000 on account.
Debit Supplies 2,000
Credit Accounts Payable 2,000
November 10 Provide services to customers on account for $10,000.
Debit Accounts receivable 10,000
Credit Service Revenue 10,000
November 15 Pay creditors on account, $2,000.
Debit Accounts payable 2,000
Credit Cash 2,000
November 20 Pay employees $3,500 for the first half of the month.
Debit Salary Expense 3,500
Credit Cash 3,500
November 22 Provide services to customers for $12,100 cash.
Debit Cash 12,100
Credit service revenue 12,100
November 24 Pay $3,000 on the note from Spartan Corporation.
Debit Note payable 3,000
Credit Cash 3,000
November 26 Collect $5,000 on account from customers.
Debit Cash 5,000
Credit Accounts receivable 5,000
November 28 Pay $1,900 to the local utility company for November gas and electricity.
Debit Utility expense 1,900
Credit cash 1,900
November 30 Pay $4,600 rent for November.
Debit rent expense 4,600
Credit cash 4,600
