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On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,900, Accounts Receivable $2,700, Supplies $600,
On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,900, Accounts Receivable $2,700, Supplies $600, Equipment $16,000, Notes Payable $10,600, Accounts Payable $860, L. Meche, Capital $15,000, L. Meche, Drawings $5,050, Service Revenue $10,660, Rent Expense $1,370, and Salaries Expense $2,500. Transactions during August 2021 follow: General Journal Date Account Titles Debit Credit 2021 Aug. 1 Rent Expense 1,370 Cash 1,370 10 Accounts Payable 425 Cash 425 12 Cash 2,900 Accounts Receivable 2,900 25 Salaries Expense Cash 2,500 2,500
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