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Izabela Ivanhoe opened a medical office under the name Izabela Ivanhoe, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,300;

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Izabela Ivanhoe opened a medical office under the name Izabela Ivanhoe, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,300; Accounts Receivable $2.500: Supplies $488: Equipment $7.000: Accounts Payable $4,270; Note Payable $2,300; and I. Ivanhoe, Capital, 55,718. During September, the following transactions occurred: Sept. 4 Collected $950 of accounts receivable. 5 Provided services of $10.372 of which $7,000 was collected from patients and the remainder was on account. 7 Paid $1,200 on accounts payable. 12 Purchased additional equipment for $2.583. paying $920 cash and leaving the balance on account 15 Paid salaries, $3.600.rent for September. $1.919. and advertising expenses, 5158 18 Collected the balance of the accounts receivable from August 31. 20 Withdrew $700 for personal use. 26 Borrowed $2,300 from the Bank of Montreal on a note payable. 28 Signed a contract to provide medical services. not covered under the government health plan, to employees of CR Corp. in October for $5,300.CRS Corp. will pay the amount owing after the medical services have been provided. 29 Received the telephone bill for September. $335. 30 Billed the government $10.500 for services provided to patients in September

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