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On August 31, the balance sheet of Monty Veterinary Clinic showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,750, and Retained Earnings $950. During September, the following transactions occurred. Paid $2,700 cash for accounts payable duc. 1. Collected $2,250 of accounts receivable. Purchased additional equipment for $2,150, paying $800 in cash and the balance on account 2. 3. 4. Performed services worth $7,650, or which $1,750 is collected in cash and the balance is due in October 5 Declared and paid a $1,450 cash dividend. Paid salaries $2,400, rent for September $1,100, and advertising expense $100. 6. Incurred utilities expense for month on account $200. 7. 8. Received $10,000 fram Capital Bank on a 6-month note payable. (a) Your answer is partially correct. Try aga in Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockhoiders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) MONTY VETERINARY CLINIC Liabilities Stockholders' Equity Assets Accounts Retalned Notes Accounts Common + Equipment + = Dividends Payable Payable Cash Receivable Supplies Stock Earnings Revenues Expenses Bal 6000 11,000 3700 600 5600 14750 950 S 1. (2700) (2700) Accounts Retained Accounts Payable Common Stock Notes Payable + Recelvable Cash Supplies Equipment Earnings Revenues Expenses Dividends Bal 11,000 3700 600 6000 5600 14750 950 S 1. (2700) (2700) 2. 2250 (2250) 3. (800) 2150 0 4. 7650 1750 5900 5. (1450) (1450) 6. (3500) (100) 07650 (100) 0 C C 0 (3600) C 7 200 (200) 8. 10000 10000 10000 3100 14750 7650 8150 (3800) (1450) 6450 7350 600 950 S I0