Riverwalk Emergency Care Clinic began operations in February 2017. The company uses the following general ledger accounts:

Cash

Accounts Receivable

Officer Supplies

Mowing Equipment

Accounts Payable

Notes Payable

Capital Stock

Retained Earnings

Mowing Revenue

Salaries Expense

Fuel Expense

The company engaged in the following transactions:

January 18 Issued 500 shares of capital stock to an investor for $211,500

January 22 Purchased office supplies on account for $10,000

January 23 Purchased clinical equipment for $ 20,000, paying $ 4,000 cash and issuing a 60 day note payable for the remaining balance

January 24 Payed $ 2,500 cash for gasoline. All this fuel will be used in July

February 25 Billed Lost Greek Cemetery $ 15,000 or healthcare services. The entire amount is due on May 30

March 01 Billed Golf View Insurance $20,000 for patient care services. The entire amount is due June 1.

March 10 Collected $32,150 from Lost Greek Insurance for patient services provided on February 27.

March 15 Paid $8,000 salary to nurse Tedy Grimm for work performed in Feb and March.

Questions:

a) Record each transaction in appropriate ledger accounts (see next page for empty T accounts). Feel free to include other accounts

b) Complete the balance sheet for Riverwalk Clinic for the period ending March 31st. Assuming no other transactions took place after March 15th.

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Riverwalk Emergency Care Clinic - The Ledger

ASSET		Liabilty and Owenrs' Equity Accounts
Cash		Notes Payable
AccountsReceivable		Account Payable
Office Supplies		Capital Stock
Moving Equipments		Retained Earings
		Services Revenue
		Salary Expense
		Fuel Expense

Text Book Health Care Finance 5th Edition/6th Edition by Louis C. Gapenski Kristin L. Reiter