REQUIRED:

Statement of Cashflows

CLOSING JOURNAL ENTRIES

POST-CLOSING TRIAL BALANCE

On March 1, 1999, Marlon Cabance, a recent medical board topnotcher, started his medical practice. During the month of March, the following transactions were completed. March 1: Cabance invested 42,500 personal funds in a new bank account in the name of Marlon Cabance, M.D.

March 2: Acquired medical equipment costing 95,000 from Tambilo Medical Equipment Company, paying 15,000 in cash, and financing the remainder by issuing a 80,000.

March 3: Paid rent for the month of March, 7,500.

March 5: Acquired medical supplies from Suiza Medical Supply Company on account, 15, 250.

March 7: Received 18,450 in cash from patients for medical services rendered this week.

March 9: Paid Pablo Labs for preparing laboratory work on patient, 1,800.

March 12: Paid salaries of medical technician and receptionist, 9,600.

March 15: Billed patients 51,700 for services rendered.

March 17: Paid Suiza Medical Supply Company 3,750 on account.

March 20: Paid telephone expense, 850.

March 21: Paid miscellaneous expense, 1,150.

March 22: Received 27,500 from patients billed on March 15.

March 23: Acquired additional medical supplies from Suiza Medical Supply Company on account, 9, 100.

March 25: Paid salaries, 11, 200.

March 26: Billed patients 40, 150 for services rendered.

March 27: Paid Suiza Medical Supply Company, 6,150.

March 28: Withdrew 15,000 from the medical practice.