Question
On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $ 8,910, Accounts Receivable $ 2,705,
On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $ 8,910, Accounts Receivable $ 2,705, Supplies $ 605, Equipment $ 16,050, Notes Payable $ 10,880, Accounts Payable $ 810, L. Meche, Capital $ 15,000, L. Meche, Drawings $ 5,220, Service Revenue $ 10,440, Rent Expense $ 1,150, and Salaries Expense $ 2,490. Transactions during August 2021 follow:
| General Journal | |||
| Date | Account Titles | Debit | Credit |
| 2021 | |||
| Aug. 1 | Rent Expense | 1,150 | |
| Cash | 1,150 | ||
| 10 | Accounts Payable | 425 | |
| Cash | 425 | ||
| 12 | Cash | 2,710 | |
| Accounts Receivable | 2,710 | ||
| 25 | Salaries Expense | 2,490 | |
| Cash | 2,490 | ||
| 30 | Notes Payable | 540 | |
| Interest Expense | 70 | ||
| Cash | 610 | ||
| 31 | Cash | 6,050 | |
| Accounts Receivable | 2,550 | ||
| Service Revenue | 8,600 | ||
| 31 | L. Meche, Drawings | 4,510 | |
| Cash | 4,510 | ||
Create T accounts and enter the July 31 balances.
| Cash | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Accounts Receivable | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Supplies | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Equipment | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Notes Payable | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Accounts Payable | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| L. Meche, Capital | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| L. Meche, Drawings | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Service Revenue | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Rent Expense | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | ||
| Salaries Expense | |||
| July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. | July 31Aug. 1Aug. 10Aug. 12Aug. 25Aug. 30Aug. 31Aug. 31 Bal. |
| |
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Accounting, Representation And Responsibility
Authors: Niels Joseph Lennon
1st Edition
0367540436, 9780367540432
