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 $24,070
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 $24,070 cash. 2 Purchases dental equipment on account from Green Jacket Co. for $18,600. 4 Pays rent for office space, $789 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $1,034. 8 Receives cash of $1,710 from patients for services performed. 10 Pays miscellaneous office expenses, $520. 14 Bills patients $6,270 for services performed. 18 Pays Green Jacket Co. on account, $5,600. 19 Withdraws $3,010 cash from the business for personal use. 20 Receives $1,070 from patients on account. 25 Bills patients $4,080 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,990; miscellaneous office expenses $98. (Record each separately.) 30 Dental supplies used during September, $360. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value Prepare an income statement.
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