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On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $7,740, Accounts Receivable $1,462, Supplies $516, Equipment $5,160, Accounts Payable $3,096, Common Stock
On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $7,740, Accounts Receivable $1,462, Supplies $516, Equipment $5,160, Accounts Payable $3,096, Common Stock $11,180, and Retained Earnings $602. During September, the following transactions occurred. 1. Paid $2,494 cash for accounts payable due. 2. Collected $1,118 of accounts receivable. 3. Purchased additional equipment for $1,806, paying $688 in cash and the balance on account. 4. Performed services worth $6,278, of which $2,150 is collected in cash and the balance is due in October. 5. Paid a $344 cash dividend. 6. Paid salaries $1,462, rent for September $774, and advertising expense $172. 7. Incurred utilities expense for month on account $145. 8. Received $8,600 from Capital Bank on a 6-month note payable
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