Problem 3-01 (Part Level Submission)

Listed below are the transactions of David Davis, D.D.S., for the month of September.

Sept. 1		Davis begins practice as a dentist, invests $21,900 cash and issues 2,190 shares of $10 par stock.
2		Purchases dental equipment on account from Green Jacket Co. for $17,640.
4		Pays rent for office space, $670 for the month.
4		Employs a receptionist, Michael Bradley.
5		Purchases dental supplies for cash, $910.
8		Receives cash of $1,570 from patients for services performed.
10		Pays miscellaneous office expenses, $460.
14		Bills patients $6,330 for services performed.
18		Pays Green Jacket Co. on account, $3,930.
19		Pays a dividend of $3,250 cash.
20		Receives $1,030 from patients on account.
25		Bills patients $1,980 for services performed.
30		Pays the following expenses in cash: Salaries and wages $1,730; miscellaneous office expenses $84.
30		Dental supplies used during September, $300.

Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.

Prepare t-accounts, trial balance, multiple-step income statement for the year, retained earnings statement for the year, balance sheet, Journalize the closing entries, and post-closing trial balance.