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Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1
Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $20,000 cash in her business. 1 Hired an administrative assistant at a salary of $700 per week payable monthly. 2 Paid office rent for the month $1,100. 3 Purchased dental supplies on account from Dazzle Company $4,000. 10 11 Performed dental services and billed insurance companies $5,100. Received $1,000 cash from Leah Mataruka for a dental implant. 20 222 Received $2,100 cash for services performed from Michael Santos. 29 Paid administrative assistant for the month $2,800. 30 Paid $2,400 to Dazzle for accounts payable due. Emily uses the following chart of accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Owner's Capital, Service Revenue.. Salaries and Wages Expense, and Rent Expense. Prepare a transaction analysis using T-accounts.
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