Question
Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September. Sept. 1. Kawabata begins practice as a dentist and invests $20,000cash.
Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September.
Sept. 1. Kawabata begins practice as a dentist and invests $20,000 cash.
1 . Purchases a one-year insurance policy for $1,200, paying the entire amount in cash.
2 . Purchases dental equipment on account from Green Jacket Co. for $17,280.
2 . Collects $3,000 prepayment from patient for 2 year orthodontic treatment plan.
4 . Pays rent for office space, $680 for the month.
4 . Employs a receptionist, Michael Bradley.
5 . Purchases dental supplies for cash, $942.
8 . Receives cash of $1,690 from patients for services performed.
10. Pays miscellaneous office expenses, $430.
14 . Bills patients $5,820 for services performed.
18 . Pays Green Jacket Co. on account, $3,600.
19 . Withdraws $3,000 cash from the business for personal use.
20 . Receives $980 from patients on account.
25 . Bills patients $2,110 for services performed.
30 . Pays the following expenses in cash: Salaries and wages $1,800; miscellaneous office expenses $85. (Record each separately.)
30 . Dental supplies used during September, $330.
Required
Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.
Enter the transactions shown above in appropriate general ledger accounts (use T-accounts in Excel). Groups may create their own Excel spreadsheet.
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