Ahuja Dental Services' general ledger at June 30, 2017, included the following: Cash $5,820, Supplies $1,180, Equipment

Question:

Ahuja Dental Services' general ledger at June 30, 2017, included the following: Cash $5,820, Supplies $1,180, Equipment $64,990, Notes Payable $50,020, Accounts Payable $680, and S. Ahuja, Capital, $21,290. During July 2017, the following transactions occurred:

July 2 Paid July's rent of $1,060.

4 Purchased $790 supplies on account.

15 Paid the accounts payable owing from June 30, 2017.

31 Paid the dental assistant's salary of $2,420.

31 Earned revenue of $10,340 for dental services during July. Collected $9,940 of this in cash.

Instructions

(a) Journalize July transactions.

(b) Using T accounts, enter the balances as at June 30, 2017.

(d) Prepare a trial balance.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...