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 hon 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