Requirement 1.Journalize the transactions for both November and December, using the following accounts: CashCash; Accounts Receivable; Office Supplies; Prepaid Rent; Land; Building; Canoes; Accounts Payable; Utilities Payable; Telephone Payable; Unearned Revenue; Notes Payable; Common Stock; Dividends; Canoe Rental Revenue; Rent Expense; Utilities Expense; Wages Expense; and Telephone Expense. Explanations are not required. (Hint: For November transactions refer to the transaction analysis chart for November.) (Record debits first, then credits. Exclude explanations from journal entries.) Nov. 1: Received $21,000 cash to begin the company and issued common stock to Alice and Zed. DateAccountsDebitCredit Nov. 1Cash21,000 Common Stock21,000 Part 2 Nov. 2: Signed a lease for a building and paid $1,000 for the first month's rent. DateAccountsDebitCredit Nov. 2Rent Expense1,000 Cash1,000 Part 3 Nov. 3: Purchased canoes for $6,720 on account. DateAccountsDebitCredit Nov. 3Canoes6,720 Accounts Payable6,720 Part 4
Nov. 4: Purchased office supplies on account, $400. DateAccountsDebitCredit Nov. 4Office Supplies400 Accounts Payable400 Part 5 Nov. 7: Earned $1,300 cash for rental of canoes. DateAccountsDebitCredit Nov. 7Cash1,300 Canoe Rental Revenue1,300 Part 6 Nov. 13: Paid $1,200 cash for wages. DateAccountsDebitCredit Nov. 13Wages Expense1,200 Cash1,200 Part 7 Nov. 15: Paid $300 dividends to stockholders. DateAccountsDebitCredit Nov. 15Dividends300 Cash300 Part 8 Nov. 16: Received a bill for $160 for utilities. (Use separate payable account.) DateAccountsDebitCredit
Nov. 16Utilities Expense160 Utilities Payable160 Part 9 Nov. 20: Received a bill for $120 for cell phone expenses. (Use separate payable account.) DateAccountsDebitCredit Nov. 20Telephone Expense120 Telephone Payable120 Part 10 Nov. 22: Rented canoes to Little Day Breakers on account, $2,700. DateAccountsDebitCredit Nov. 22Accounts Receivable2,700 Canoe Rental Revenue2,700 Part 11 Nov. 26: Paid $1,500 on account related to the November 3 purchase. DateAccountsDebitCredit Nov. 26Accounts Payable1,500 Cash1,500 Part 12 Nov. 28: Received $1,500 from Little Day Breakers for canoe rental on November
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