when preparing their financial statements accounting practice after graduation from university. The fil P1-6A Frank Petronick decided to start an is a list of events that occurred concerning Frank's practice during June 2017, the first month of operations After shopping around, Frank found an office to lease and signed a lease agreement. The lease cili a payment of $1,050 rent per month. Borrowed $3,846 from his grandmother Deposited the $3,846 plus $530 ofhis own cash in a new bank account at BMO under the name Petro Accounting Servies Paid the landlord the first month's rent. Purchased furniture for $3,160 on account. Moved into the office and obtained the first assignment from a client to prepare year-end financial June 1 some office furniture for his new ofic so that he could buy 4 rwo ni anhub 6 9wo yd 8 11 ments for $1,865. 15 Performed the work on the assignment and sent an invoice to the customer for $1,865. Paid half of the amount of the purchase of furniture. 13 18 Purchased supplies 26 Paid for Internet services, $49 cash. 28 Collected $900 of the June 15 billing to the customer. 30 Withdrew cash from the business of $128 for personal expenses. on account for $344. Analyze Pl-8A Izabela Jach opened a medical office under the name Izabela Jach, MD, on August 1, 2017. On August 31, the balance sheet showed Cash $3,000; Accounts Receivable $1,500; Supplies $600; Equipment $7,500; Accounts Payable prepare financial s (LO 4, 5, 6) AP $5,500; Note Payable $3,000; and I. Jach, Capital, $4,100. During September, the following transactions occurred: Sept. 4 t incom Collected $800 of accounts receivable. (5 Provided services of $10,500, of which $7,700 was collected from patients and the remainder was on account. Paid $2,900 on accounts payable. Purchased additional equipment for $2,300, paying $800 cash and leaving the balance on account. prinche 12 Paid salaries, $2,800; rent for August, $1,900; and advertising expenses, $275 15 Collected the balance of the accounts receivable from August 31. Withdrew $1,000 for personal use. Borrowed $3,000 from the Bank of Montreal on a note payable. Signed a contract to provide medical services, not covered under the government health plan, to employees of CRS Corp. in October for $5,700. CRS Corp, will pay the amount owing after the medical services have been provided. Received the telephone bill for September, $325. Billed the government $10,000 for services provided to patients in September. 18 follovn 20 ns 26 allfr 28 ofice etrn 29 30 Instructions Santember transactions when preparing their financial statements accounting practice after graduation from university. The fil P1-6A Frank Petronick decided to start an is a list of events that occurred concerning Frank's practice during June 2017, the first month of operations After shopping around, Frank found an office to lease and signed a lease agreement. The lease cili a payment of $1,050 rent per month. Borrowed $3,846 from his grandmother Deposited the $3,846 plus $530 ofhis own cash in a new bank account at BMO under the name Petro Accounting Servies Paid the landlord the first month's rent. Purchased furniture for $3,160 on account. Moved into the office and obtained the first assignment from a client to prepare year-end financial June 1 some office furniture for his new ofic so that he could buy 4 rwo ni anhub 6 9wo yd 8 11 ments for $1,865. 15 Performed the work on the assignment and sent an invoice to the customer for $1,865. Paid half of the amount of the purchase of furniture. 13 18 Purchased supplies 26 Paid for Internet services, $49 cash. 28 Collected $900 of the June 15 billing to the customer. 30 Withdrew cash from the business of $128 for personal expenses. on account for $344. Analyze Pl-8A Izabela Jach opened a medical office under the name Izabela Jach, MD, on August 1, 2017. On August 31, the balance sheet showed Cash $3,000; Accounts Receivable $1,500; Supplies $600; Equipment $7,500; Accounts Payable prepare financial s (LO 4, 5, 6) AP $5,500; Note Payable $3,000; and I. Jach, Capital, $4,100. During September, the following transactions occurred: Sept. 4 t incom Collected $800 of accounts receivable. (5 Provided services of $10,500, of which $7,700 was collected from patients and the remainder was on account. Paid $2,900 on accounts payable. Purchased additional equipment for $2,300, paying $800 cash and leaving the balance on account. prinche 12 Paid salaries, $2,800; rent for August, $1,900; and advertising expenses, $275 15 Collected the balance of the accounts receivable from August 31. Withdrew $1,000 for personal use. Borrowed $3,000 from the Bank of Montreal on a note payable. Signed a contract to provide medical services, not covered under the government health plan, to employees of CRS Corp. in October for $5,700. CRS Corp, will pay the amount owing after the medical services have been provided. Received the telephone bill for September, $325. Billed the government $10,000 for services provided to patients in September. 18 follovn 20 ns 26 allfr 28 ofice etrn 29 30 Instructions Santember transactions