=+P3-1 Accrual basis accounting Obj 2 SPREADSHEET I Paid $5,400 for an insurance premium on a general business policy.

6 Purchased supplies of $1,425 on account.

9 Collected $13,500 for services provided to customers on account.

II Paid creditors $2,400 on account.

18 Invested an additional $40,000 in the business in exchange for capital stock.

20 Billed patients $37,200 for services provided on account.

Emerald Health Care Inc. is owned and operated by Dr. Julie Weinstein, the sole stockholder.

During March 2009, Emerald Health Care entered into the following transactions:

Mar. 1 Received $ 12,000 from Moloney Company as rent for the use of a vacant office in Emerald Health Cares building. Moloney paid the rent six months in advance.

Accrual Accounting Concepts 117 Accts.

Cash + Rec.

Bal.,Mar.1 15,600 20,250