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Please complete Journal entries and Worksheet for the following: Guam Clinics had the following balances and transactions: Assets of $575,000 Liabilities of $125,000 and Equity
Please complete Journal entries and Worksheet for the following: Guam Clinics had the following balances and transactions: Assets of $575,000 Liabilities of $125,000 and Equity of $450,000 1. Received $75,000 on patient accounts 2. Billed patients $275,000 for services rendered 3. Paid salaries and wags of $85,000 4. Purchased $50,000 of supplies on account 5. Ordered replacement supplies for $55,000 u. Purchased equipment with loan for $110,000 7. Paid interest of $15,000 8. Paid mortgage of $36,000 9. Bought new vehicle for $54,000 10. Paid insurance in the amount of $6,500 10. Paid insurance in the amount of $6,500 False Debit A/R \$275k Credit RSR \$275k Inventory True $168,500 Increased Up $867,500 $249.000
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