Record each transaction into the T account Be sure you understand the rule of debits and credits before attempting this template You do not need Excel formulas for this template The first one is given as an example 1. Bought an insurance policy for $1,000 Prepaid Insurance Cash $1,000 $1,000 2. Billed third party for patients who were seen in the month of February $1,400,000.00 3. Patients who paid cash in the month of February $600,000.00 4. Received $324,000.00 from third party for patients who were billed in transaction # 1 5. Purchased a new tachometer and used a credit card to record the purchased $15,000.00 6. Paid half of the bill in transaction above ($15,000.00) 7. Paid wages of $598,000.00 for the week.