Question: I am trying to work out this problem and I'm falling short. Please advise. Listed below are the transactions of James Smith, D.D.S., for the

 I am trying to work out this problem and I'm fallingshort. Please advise. Listed below are the transactions of James Smith, D.D.S.,for the month of September. Sept. 1 Smith begins practice as a

I am trying to work out this problem and I'm falling short. Please advise.

dentist, invests $20,620 cash and issues 2,062 shares of $10 par stock.2 Purchases dental equipment on account from Green Jacket Co. for $17,340.4 Pays rent for office space, $740 for the month. 4 Employsa receptionist, Michael Bradley. Purchases dental supplies for cash, $890. 8 Receives

Listed below are the transactions of James Smith, D.D.S., for the month of September. Sept. 1 Smith begins practice as a dentist, invests $20,620 cash and issues 2,062 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $17,340. 4 Pays rent for office space, $740 for the month. 4 Employs a receptionist, Michael Bradley. Purchases dental supplies for cash, $890. 8 Receives cash of $1,740 from patients for services performed. 10 Pays miscellaneous office expenses, $450. 14 Bills patients $6,230 for services performed. 18 Pays Green Jacket Co. on account, $3,260. 19 Pays a dividend of $3,270 cash. 20 Receives $980 from patients on account. 25 Bills patients $2,240 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,680; miscellaneous office expenses $86. 30 Dental supplies used during September, $360. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.Prepare a trial balance. (Do not leave any answer field blank. Enter 0 for amounts.) JAMES SMITH, D.D.S. Trial Balance For the Month Ended September 30 v Debit Credit Cash 23340 7466 Accounts Receivable 8470 980 Rent Expense 740 Supplies 890 360 Office Expense 536 Salaries and Wages Expense 1680 Supplies Expense 360 Depreciation Expense Equipment 17340 Common Stock 20620 Dividends 3270 Accounts Payable 3260 17340 Service Revenue 2240 Accumulated Depreciation-Equipment Total $ $

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