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I will rate and I need fresh answer. On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies
I will rate and I need fresh answer.
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.
- 1. Paid $2,900 cash for accounts payable due.
- 2. Collected $1,300 of accounts receivable.
- 3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account.
- 4. Earned revenue of $7,300, of which $2,500 is collected in cash and the balance is due in October.
- 5. Declared and paid a $400 cash dividend.
- 6. Paid salaries $1,700, rent for September $900, and advertising expense $200.
- 7. Incurred utilities expense for month on account $170.
- 8. Received $10,000 from Capital Bank on a 6-month note payable.
Prepare a balance sheet at September 30.
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