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Please help me with JUST NUMBER 1 journal entry Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September. Sept.
Please help me with JUST NUMBER 1 journal entry Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September. Sept. 1 Kawabata begins practice as a dentist, invests $20,000 cash, and issues 2,000 shares of $10 par stock 2 Purchases dental equipment on account from Green Jacket Co. for $17,280 4 Pays rent for office space, $680 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $942. 8 Receives cash of $1,690 from patients for services performed. 10 Pays miscellaneous office expenses, $430. 14 Bills patients $5,820 for services performed. 18 Pays Green Jacket Co. on account, $3,600. 19 Pays a dividend of $3,000 cash. 20 Receives $980 from patients on account. 25 Bills patients $2,110 for services performed. 30 Pays the following expenses in cash: salaries and wages $1,800; miscellaneous office expenses $85. 30 A physical count was taken and dental supplies on hand were $612. 30 Depreciation of dental equipment purchased on September 2nd was taken. Instructions 1. Create journal entries for the above transactions Use proper account names listed below (number 2) 2. Enter the transactions shown above in appropriate general ledger accounts (use T-accounts). Use the following ledger accounts: Cash, Accounts Receivable, Supplies, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Rent Expense, Office Expense, Salaries and Wages Expense, Supplies Expense, Depreciation Expense, and Income Summary. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value. Do not use a drawing account.
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