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Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance...

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Accounting

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Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Account Debits Credits Cash $ 2,700 Accounts Receivable 550 Supplies 650 Equipment 8,900 Accounts Payable $1,750 Notes Payable 3,500 Common Stock 6,500 Retained Earnings 1,050 Totals $12,800 $12,800 The following transactions occur in November. November 1 Issue common stock in exchange for $12,500 cash. November 2 Purchase equipment with a long-term note for $3,000 from Spartan Corporation. November 4 Purchase supplies for $1,100 on account. November 10 Provide services to customers on account for $8,500. November 15 Pay creditors on account, $1,200. November 20 Day employees $2.500 for the first half of the month. November 22 Provide services to customers for $10,500 cash. November 24 Pay $1,200 on the note from Spartan Corporation. November 26 Collect $6,500 on account from customers. November 28 Pay $1,200 to the local utility company for November gas and electricity. November 30 Pay $4.500 rent for November. MOSAS

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