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Problem 3-01 Listed below are the transactions of Paul White, D.D.S., for the month of September. Sept. 1 White begins practice as a dentist, invests
Problem 3-01 Listed below are the transactions of Paul White, D.D.S., for the month of September. Sept. 1 White begins practice as a dentist, invests $20,210 cash and issues 2,021 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $18,060. 4 Pays rent for office space, $710 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $940. 8 Receives cash of $1,670 from patients for services performed. 10 Pays miscellaneous office expenses, $410. 14 Bills patients $5,720 for services performed. 18 Pays Green Jacket Co, on account, $3,500. 19 Pays a dividend of $3,180 cash. 20 Receives $980 from patients on account. 25 Bills patients $2,190 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,910; miscellaneous office expenses $89. 30 Dental supplies used during September, $360. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value. Enter the transactions shown above in appropriate general ledger accounts (use T-accounts). (Post entries in the
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