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Please answer requirement 1, 2, and 3! During July, Smith Veterinary Clinic Ltd. completed the following transactions: (Click the icon to view the transactions.) The
Please answer requirement 1, 2, and 3!
During July, Smith Veterinary Clinic Ltd. completed the following transactions: (Click the icon to view the transactions.) The clinic uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Accounts Payable, Notes Payable, Common Shares, Dividends, Service Revenue, Salary Expense, Rent Expense, Utilities Expense, and Advertising Expense. Required 1. Journalize each transaction of Smith Veterinary Clinic Ltd. Explanations are not required. 2. Post to these T-accounts: Cash, Accounts Payable, and Notes Payable. 3. After these transactions, how much cash does the business have? How much in total liabilities does it owe? More info Jul 1Dr. Smith deposited $22,000 cash in the business bank account. The business issued common shares to her. 5 Paid monthly rent, $1,900. 9 Paid $8,000cash, and signed a $31,000 note payable to purchase land for an office site. 10 Purchased supplies on account, $1,000. 19 Paid $750 on account. 22 Borrowed $18,500 from the bank for business use. Dr. Smith signed a note payable to the bank in the name of the business. 31 Revenue earned during the month included $14,500 cash and $8,000 on account. 31 Paid employees' salaries ($3,200), advertising expense ($1,200), and utilities expense ($1,100). 31 Declared and paid a cash dividend of $2,000. Requirement 2. Post to these T-acceunts: Cash. Accounts Pavable, and Noses Payable. cella blank. (Make sure to use sext avalable cell on the proper side of the T-eccount when entering the transactions. Leare unvsed cells blank.) The company has a cash balance of s The company owes tobal labaties of 5
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