Ahuja Dental Services general ledger at June 30, 2024, included the following: Cash $5,820, Supplies $1,180, Equipment
Question:
Ahuja Dental Services’ general ledger at June 30, 2024, 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 2024, the following transactions occurred:
July 2 Paid July’s rent of $1,060.
4 Purchased $790 of supplies on account.
15 Paid the accounts payable owing from June 30, 2024.
31 Paid the dental assistant’s salary of $2,420.
31 Provided $10,340 of dental services during July. Collected $9,940 of this in cash.
Instructions
a. Journalize the July transactions.
b. Create T accounts and enter the balances as at June 30, 2024.
c. Post the July journal entries.
d. Prepare a trial balance.
Step by Step Answer:
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak