2 3 4 5 6 7 8 9 10 11 September 2021 Economic events for the first month of the business. S21 1 Begins practice as a dentist and invests $8,000 cash in the business bank account. 2 Purchases equipment for cash of $2,000 plus a note payable of $16,000. 3 Pays rent for office space, $3,000 for the month. 7 Hires receptionist to start next week. Wages paid end of month Agreed $500 per week 8 Purchases dental supplies on account for $2,000. The supplies might last a few months. 9 Receives cash of $4,000 from patients for services performed this day. 10 Pays internet and website expense for the month $2,700. 14 Bills patients $7,300 for services performed this week. 18 Pays supplier of dental supplies $400 on account. 19 Withdraws $4,000 cash from the business for personal use. 20 Receives $3,000 from patients on account. 25 Bills patients $6,000 for services performed this week. 30 Pays the following expenses for the month a office wages expense $1.500 b phone expense S 200 30c the furniture and equipment has an estimated useful life of 5 years 30d there are $1,500 of supplies remaining at the end of the month. The first month of note payable is "interest free". After that the payments are $500 per month plus interest. 12 13 14 15 16 17 18 19 20 21 1 N 3 Owners Equity 1 Tabular analysis S21 Assets = Liabilities Account Accounts S Note Date Cash Receivable supplies Equipment Payable Payable 5 owner owner Drawing S Revenues Expenses Capital 6 1 7 N 8 3 9 7 10 8 11 9 12 10 13 14 14 18 15 19 16 20 17 25 18 19 30a 20 30b 21 30c 22 30d 23 totals