2

On July 31, 2017, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,760, Accounts Receivable $2,630, Supplies $530, Equipment $15,300, Notes Payable $10,590, Accounts Payable $810, L. Meche, Capital $15,000, L. Meche, Drawings $5,330, Fees Earned $9,260, Rent Expense $1,010, and Salaries Expense $2,100. Selected transactions during August 2017 follow:

Date

Account Titles

Debit

Credit

2017

Aug. 1

Rent Expense

1,010

Cash

1,010

10

Accounts Payable

440

Cash

440

12

Cash

2,580

Accounts Receivable

2,580

25

Salaries Expense

2,100

Cash

2,100

30

Notes Payable

460

Interest Expense

65

Cash

525

31

Cash

6,180

Accounts Receivable

2,360

Fees Earned

8,540

31

L. Meche, Drawings

4,670

Cash

4,670

Make T accounts and enter the July 31 balances. Make the transactions to the T accounts. (Make entries in the order of journal entries presented in the previous part.)