Record each transaction into the T account
The first one is given as an example
Bought an insurance policy for $1,000
	Prepaid Insurance				Cash
	$1,000				$1,000
Bought medical supplies for $5,000 and paid cash
Bought medical supplies of $2,000 and used Mastercard
Billed Insurance company (third party) for services rendered $6,000
Recorded $7,000 of revenue from patients who paid cash
Received and paid the charge card $2,000 from the transaction in which it was charged (above)
Received $3,000 FROM Insurance company previouslybilled above