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The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. Owes $18,400 to the Allen Equipment

The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July.

  1. Owes $18,400 to the Allen Equipment Company.
  2. Has cash balance of $12,900.
  3. Has dental supplies of $3,350.
  4. Owes $3,880 to Contemporary Furniture Supply.
  5. Has dental equipment of $25,950.
  6. Has office furniture of $7,400.

Determine the amounts that would appear in Dr. Wells balance sheet.

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