September

2020

Economic events for the first month of the business.

W21

1

Begins practice as a dentist and invests $7,000 cash in the business bank account.

2

Purchases equipment with Note Payable $18,000. Payments $1,000 per month start next month (0% interest).

3

Pays rent for office space, $1,000 for the month.

4

Hires receptionist to start next week. Wages paid end of month.

Agreed $500 per week

8

Purchases dental supplies on account for $800. The supplies might last a few months.

9

Receives cash of $4,000 from patients for services performed this day.

10

Pays internet expense for the month $700.

14

Bills patients $3,300 for services performed this day.

18

Pays supplier of dental supplies $400 on account.

19

Withdraws $4,000 cash from the business for personal use.

20

Receives $1,000 from patients on account.

25

Bills patients $2,000 for services performed this day.

30

Pays the following expenses for the month

a

office wages expense

$ 1,500

b

phone expense

$ 200

30c

the furniture and equipment has an estimated useful life of 5 years

30d

there are $500 of supplies remaining at the end of the month.

1. tabular analysis summary of transactions

2. Financial Statetments