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On August 3 1 , the balance sheet of Sunland Veterinary Clinic showed Cash $ 1 1 , 0 0 0 , Accounts Receivable $

On August 31, the balance sheet of Sunland Veterinary Clinic showed Cash $11,000, Accounts Receivable $3,700, Supplies $600,
Equipment $6,000, Accounts Payable $5,600, Common Stock $14,800, and Retained Earnings $900. During September, the following
transactions occurred.
Paid $2,950 cash for accounts payable due.
Collected $2,000 of accounts receivable.
Purchased additional equipment for $1,550, paying $750 in cash and the balance on account.
Recognized revenue of $8,800, of which $3,400 is collected in cash and the balance is due in October.
Declared and paid a $2,000 cash dividend.
a. Paid salaries $2,200.
b. Rent for September $1,150.
c. Advertising expense $100.
Incurred utilities expense for month on account $210.
Received $13,000 from Capital Bank on a 6-month note payable.
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