Question: Problem 3-6 (Part Level Submission) On August 31, the balance sheet of Concord Veterinary Clinic showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000,
Problem 3-6 (Part Level Submission) On August 31, the balance sheet of Concord Veterinary Clinic showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $15,000, and Retained Earnings $700. During September, the following transactions occurred 1. Paid $3.050 cash for accounts payable due 2. Collected $1,500 of accounts receivable 3. Purchased additional equipment for $2,600, paying $850 in cash and the balance on account 4. Performed services worth $8,800, of which $3,200 is collected in cash and the balance is due in October 5. Declared and paid a $500 cash dividend. 6 Paid salaries $2,350, rent for September $1,150, and advertising expense $100 7. Incurred utilities expense for month on account $240. B. Received $13,500 from Capital Bank on a 6-month note payable Prepare a tabular analysis of the September transactions beginning with August 31 balances (ir a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sin for parentheses) in front of the amount entered for the particular Asset Liity or Equity item that was reduced) CONCORD VETERINARY CLINIC Assets Liabilities Stockholders' Equity Accounts Notes Accounts Common Retained Cash Receivable Supplies Equipment Payable Payable Stock Earnings Revenues Expenses Dividende Bal $ 1. 2 3 6 8
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