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On August 31, the balance sheet of Swifty Veterinary Clinic showed Cash $10,440, Accounts Receivable $1,972, Supplies $696, Equipment $6,960, Accounts Payable $4.176, Common
On August 31, the balance sheet of Swifty Veterinary Clinic showed Cash $10,440, Accounts Receivable $1,972, Supplies $696, Equipment $6,960, Accounts Payable $4.176, Common Stock $15,080, and Retained Earnings $812. During September, the following transactions occurred. 1. Paid $3,364 cash for accounts payable due. 2. Collected $1,508 of accounts receivable. 3. Purchased additional equipment for $2,436, paying $928 in cash and the balance on account. 4. Performed services worth $8,468, of which $2,900 is collected in cash and the balance is due in October. 5. Paid a $464 cash dividend. 6. Paid salaries $1,972, rent for September $1,044, and advertising expense $232. 7 Incurred utilities expense for month on account $190. 8, Received $11,600 from Capital Bank on a 6-month note payable.
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