On July 31, 2024, Lee Young, MD, had the following balances in the ledger for his...
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On July 31, 2024, Lee Young, MD, had the following balances in the ledger for his medical practice: Cash $8,930, Accounts Receivable $2.715, Supplies $615, Equipment $16,150, Notes Payable $10,660, Accounts Payable $890. L. Young, Capital $15,000. L. Young. Drawings $5,210, Service Revenue $10,950, Rent Expense $1,460, and Salaries Expense $2,420. Transactions during August 2024 follow: Date Account Titles 2024 General Journal Aug. 1 Rent Expense Cash 10 Accounts Payable Cash 12 Cash Accounts Receivable 25 Salaries Expense Cash 30 Notes Payable Interest Expense Cash 31 Cash Debit Credit 1,460 410 2,590 2,420 510 35 6,170 2,490 Accounts Receivable Service Revenue 31 L. Young, Drawings 4,620 Cash 1,460 410 2,590 2,420 545 8.660 4,620 July 31 July 31 July 31 July 31 Cash 8,930 Accounts Receivable 2,715 Supplies 615 Equipment 16,150 Notes Payable July 31 Accounts Payable July 31 10,660 890 July 31 July 31 July 31 L. Young, Capital July 31 L. Young, Drawings 5,210 Service Revenue Rent Expense 1,460 July 31 Salaries Expense 2,420 Interest Expense 15,000 10,950 On July 31, 2024, Lee Young, MD, had the following balances in the ledger for his medical practice: Cash $8,930, Accounts Receivable $2.715, Supplies $615, Equipment $16,150, Notes Payable $10,660, Accounts Payable $890. L. Young, Capital $15,000. L. Young. Drawings $5,210, Service Revenue $10,950, Rent Expense $1,460, and Salaries Expense $2,420. Transactions during August 2024 follow: Date Account Titles 2024 General Journal Aug. 1 Rent Expense Cash 10 Accounts Payable Cash 12 Cash Accounts Receivable 25 Salaries Expense Cash 30 Notes Payable Interest Expense Cash 31 Cash Debit Credit 1,460 410 2,590 2,420 510 35 6,170 2,490 Accounts Receivable Service Revenue 31 L. Young, Drawings 4,620 Cash 1,460 410 2,590 2,420 545 8.660 4,620 July 31 July 31 July 31 July 31 Cash 8,930 Accounts Receivable 2,715 Supplies 615 Equipment 16,150 Notes Payable July 31 Accounts Payable July 31 10,660 890 July 31 July 31 July 31 L. Young, Capital July 31 L. Young, Drawings 5,210 Service Revenue Rent Expense 1,460 July 31 Salaries Expense 2,420 Interest Expense 15,000 10,950
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Cash Ac Date Particulars Amount Date Particulars Amount 01Aug To Balance Bd 8930 01Aug By Rent 1460 ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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