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On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,930, Accounts Receivable $2,715, Supplies $615,
On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,930, Accounts Receivable $2,715, Supplies $615, Equipment $16,150, Notes Payable $10,660, Accounts Payable $890, L. Meche, Capital $15,000, L. Meche, Drawings $5,210, Service Revenue $10,950, Rent Expense $1,460, and Salaries Expense $2,420. Transactions during August 2021 follow: General Journal Date Account Titles Debit Credit 2021 Aug. 1 Rent Expense 1,460 Cash 1,460 10 Accounts Payable 410 Cash 410 12 Cash 2,590 Accounts Receivable 2,590 25 Salaries Expense 2,420 Cash 2,420 30 Notes Payable 510 Interest Expense 35 Cash 545 31 Cash 6,170 Accounts Receivable 2.490 Service Revenue 8,660 8,660 31 L. Meche, Drawings 4,620 Cash 4,620 Create T accounts and enter the July 31 balances. Cash $8,930 Accounts Receivable $2,715 July 31 Aug. 1 Aug. 10 Aug. 12 Aug. 25 Aug. 30 Aug. 31 Aug. 31 Bal. Supplies $615 Equipment $16,150 Notes Payable $10,660 Accounts Payable $890 L. Meche, Capital $15,000 L. Meche, Drawings $5,210 Service Revenue $10,950 Rent Expense $1,460 Salaries Expense $2,420
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