Clyde Gamolo opened Cagayan Chiropractic Clinic. The following transactions occurred during June of this year: Gamolo...

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Clyde Gamolo opened Cagayan Chiropractic Clinic. The following transactions occurred during June of this year: Gamolo invested P180,000 cash in the professional practice. b. Gamolo invested in the firm professional equipment with a fair market value of P72,000. a. Bought a filing cabinet on account from Andrews Office Essentials, P3,260. Paid cash for chairs for the waiting room, P4,620. Bought a multi-function printer for P15,400 from Main Office Machines, paying P7,400 down; the balance is due in thirty days. Received and paid telephone bill, P990. Billed patients for professional servicés performed, P16,120. Paid P1,800 as membership dues to the national chiropractic association. i. с. d. е. f. g. h. Received and paid electric bill, P910. Received P6,900 from patients previously billed in transaction (g). j. Paid in full accounts related to purchase of a filing cabinet. k. 1. Paid office rent for the month, P5,000. Received P2,420 cash from walk-in patients. Paid salaries of nurse assistant, P8,250. Gamolo withdrew cash for personal use, P11,500. m. n. O. Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Medical Equipment; Accounts Payable; Gamolo, Capital; Gamolo, Withdrawals; Service Revenues; Salaries Expense; Rent Expense; Utilities Expense and Miscellaneous Expense. 2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction. 3. Prepare a trial balance. Clyde Gamolo opened Cagayan Chiropractic Clinic. The following transactions occurred during June of this year: Gamolo invested P180,000 cash in the professional practice. b. Gamolo invested in the firm professional equipment with a fair market value of P72,000. a. Bought a filing cabinet on account from Andrews Office Essentials, P3,260. Paid cash for chairs for the waiting room, P4,620. Bought a multi-function printer for P15,400 from Main Office Machines, paying P7,400 down; the balance is due in thirty days. Received and paid telephone bill, P990. Billed patients for professional servicés performed, P16,120. Paid P1,800 as membership dues to the national chiropractic association. i. с. d. е. f. g. h. Received and paid electric bill, P910. Received P6,900 from patients previously billed in transaction (g). j. Paid in full accounts related to purchase of a filing cabinet. k. 1. Paid office rent for the month, P5,000. Received P2,420 cash from walk-in patients. Paid salaries of nurse assistant, P8,250. Gamolo withdrew cash for personal use, P11,500. m. n. O. Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Medical Equipment; Accounts Payable; Gamolo, Capital; Gamolo, Withdrawals; Service Revenues; Salaries Expense; Rent Expense; Utilities Expense and Miscellaneous Expense. 2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction. 3. Prepare a trial balance.

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