Question: HELP PLEASE WILL RATE! I HAVE TO UNDERSTAND Make journal entries based om the following: A. MARCH 2, borrowed $75,000 from Bank to invest in

HELP PLEASE WILL RATE! I HAVE TO UNDERSTAND

Make journal entries based om the following:

A. MARCH 2, borrowed $75,000 from Bank to invest in the business. The terms of the loan are as follows: Interest ...................... 5% Term .................... 15 years b. MARCH 4, Collected $1,500 from medical plan receivables c. MARCH. 6, Paid $2,600 of accounts payable d. MARCH 7, Received $5,000 for medical services and.

e. MARCH 8, Provided medical services worth $10,000, received $6,000, and the rest will be charged next month

F. MARCH. 5, He served in the operating room, was paid $3,000 in cash. G. The total deductibles charged to patients in CASH during the month OF MARCH was $3,000. H. Recognize the depreciation expense of the month of march for:

Furniture 20,000 / 5 = Equipment 100,000 / 20 = Auto 30,000 / 5 = Building 150,000 / 30 = Improvements to Building 30,000 / 10 =

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!