Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cindy Fairy started her own dentist clinic on May 1, 2019. The following transactions occurred during the month of May 2023 in the book of
Cindy Fairy started her own dentist clinic on May 1, 2019. The following transactions occurred during the month of May 2023 in the book of "The Tooth Fairy" May 1: Cindy invested S8,000 cash in the business (dentist clinic) May 2: Purchased goods for cash $4,000 and S 3,000 on account May 2: Employed one clinic staff. May 3: Paid $ 300 for utilities (water) May 4: Dental services performed on client. Client paid S 2,000 on account May 5: Received from customer S 1,000 May 7: Withdrew cash $ 400 for personal use May 8: Paid for the goods purchased on account on May 2. May 10: Paid $100 cash for advertisement May 12: Paid cash S 300 for telephone bill May 14: Purchased dentistry supplies for S 3,000 from Best Bite by signing a note payable May 16: Paid cash $150 for electricity bill of May 2023 May 19: Purchased a used car for cash $ 6,000, for home visits to clients. May 24: Paid Cash $400 for office rent. May 29: Paid cash S 700 for employee salary May 30: Paid for goods purchased on May 14
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started