On 12/1/2021 Scott Clinic had the following balances: Equity of $300,000 Assets of $475,000 Liabilities of $175,000 The following transactions occurred in December: 1. Paid $115,000 on a mortgage with $15,000 of this being interest. 2. Paid wages of $110,000. 3. Billed patients for services in the amount of $175,000. 4. Placed an order for a new MRI machine in the amount of $350,000. 5. Used supplies in the amount of $45,000 for patient services. 6. Purchased supplies on account in the amount of $75,000. 7. Received funds in the amount of $210,000 from Medicaid for previously billed patients Would there be a Journal entry for #4 ? For \#1 interest expense would be a debit or credit entry? Asset balance over the month increased or decreased? Scott clinic has an reduced amount of how many $ in Assets over this period? Scott clinic made a profit or loss after all transactions? Would there be a Journal entry for \#4? For \#1 interest expense would be a debit or credit entry? Asset balance over the month increased or decreased? Scott clinic has an reduced amount of how many $ in Assets over this period? Scott clinic made a profit or loss after all transactions? For \#7 there would be a debit or credit to Accounts Receivable Liabilities increased by $25,000 over this reporting period Scott made a Profit after all transactions The new Equity balance after all transactions and the new starting figure for next period is The Asset balance after all transactions and the new starting figure for the next period is