D. Wallace, a physical therapist, opened Wallace's Clinic. His accountant provided the following chart of accounts: Assets Cash Accounts Receivable Office Equipment Office Furniture Liabilities Accounts Payable Revenue Professional Fees Expenses Salary Expense Rent Expense Utilities Expense Miscellaneous Expense Owner's Equity D. Wallace, Capital D. Wallace, Drawing The following transactions occurred during July of this year: a. Wallace deposited $41,000 in a bank account in the name of the business. b. Bought filing cabinets (Office Equipment) on account from Muller Office Supply, $880, c. Paid cash for chairs and carpeting (Office Furniture) for the waiting room, $1,000, Ck. No. 1000. d. Bought a photocopier from Rob's Office Equipment, $980, paying $390 in cash and placing the balance on account, Ck. No. 1001. e. Received and paid the telephone bill, which included installation charges, $215, Ck. No. 1002. f. Sold professional services on account, $3,360. g. Received and paid the bill for the state physical therapy convention, $600, Ck. No. 1003 (Miscellaneous Expense). h. Received and paid the electric bill, $280, Ck. No. 1004. 1. Received cash on account from credit customers, $2,040. J. Paid on account to Muller Office Supply, $500, Ck. No. 1005. k. Paid the office rent for the current month, $1,610, Ck. No. 1006. 1. Sold professional services for cash, $2,990. m. Paid the salary of the receptionist, $1,270, Ck. No. 1007. n. Wallace withdrew cash for personal use, $1,820, Ck. No. 1008. Requirements: 1. Under each of the following T accounts, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification or account and select either a plus or minus sign on the right side to indicate whether a credit increases or decreases the classification or account. 2. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'n'). 3. Foot the T accounts and show the balances. Debit Cash Credit 00000 Debit Accounts Payable Credit Bal. Debit Cash Credit Debit Accounts Payable Bal. Credit Homework eBook 30 GO T1 ALGO 2.ALGO Bal. 3.ALGO 1.ALGO ZALGO ALGO Bal Accounts Receivable Debit Debit Debit Office Equipment Office Furniture D. Wallace, Capital Credit Debit Credit Bal Bal. Credit D. Wallace, Drawing Debit Debit Credit Credit Professional Fees Credit ad Homework ALGO ALGO ART.1 ALGO ART.2.ALGO RT.3.ALGO RT.1.ALGO RT2.ALGO eBook Bal T3.ALGO Bal. Debit Debit Office Furniture Salary Expense Debit Credit Credit Utilities Expense Debit Credit Bal Bal. Professional Fees Debit Bal Rent Expense Credit Credit Miscellaneous Expense Debit Credit 3.PART 1 ALGO PART 2 ALGO PART 3.ALGO PART 1 ALGO Bal PART 2 ALGO PART.3.ALGO Bal Debit Salary Expense. Credit Utilities Expense Debit Credit Bal. Bal. Debit Rent Expense Credit Miscellaneous Expense Debit Credit