This assignment will require you to create a journal, several T accounts, and a trial balance as we did in the example problem. You can upload these files in either Word or Excel. Review the example below of Bayshore Radiology Center. Create a journal that records all the transactions described in steps 1 through 10.

1) Investment by owners: 5 radiologists invest $200,000 cash in the business in exchange for $200,000 common stock. 2) Purchase of equipment for cash: purchase of equipment costing $200,000 which is paid in cash. 3) Purchase of supplies on credit: purchase of medical supplies for $20,000 but does not use any of the supplies immediately and the supplier's terms give the center 60 days to pay the bill. 4) Services rendered on credit: assume that Bayshore provides patient services that result in $50,000 in billing to third-party payers. Assume no cash is initially collected. 5) Purchase of advertising on credit: Bayshore receives a bill for $10,000 from the Daily News for advertising its grand opening. but it does not have to pay the newspaper for 30 days. 6) Payment of expenses: Assume that the center paid $50,000 in cash for rent, salaries, and utilities. 7) Recognition of supplies used: Assume that $2,000 worth of supplies inventory was used in providing healthcare services to Bayshore's patients. 8) Payment of accounts payable (advertising bill): Assume that the center paid its $10,000 advertising bill, which was due in 30 days. 9) Payment of accounts payable (supplies bill): On month later, assume that Bayshore paid its $20,000 supplies bill, which decreases cash and accounts payable. 10) Receipt of cash from a third-party pater: Assume that $5,000 is received in payment for patient services rendered from one of Bayshore's third-party payers.

Use this journal to create T charts for each account in question. Enter the account balance and whether this is a debit or credit balance below. Numerical answers should be shown with a $ and using commas when appropriate (for example, 1000 dollars should be expressed as $1,000). Express all answers as positive numbers (the debit or credit balance will indicate which side the balance belongs on). Other answers should be the word debit or credit, unless the account balance is zero. In this case enter the words zero balance. For this exercise you can focus solely on the balance sheet accounts. For income statement (temporary) accounts, you can simply address the transactions as they related to equity, as is directed in the text. For ease, you can treat the transactions as if they all occur in one accounting period, despite the fact that the extend over more than 1 month in the book. In the next question you'll use this information to create a trial balance.

1) Cash account balance (numerical answer) __________________ 2) Cash account balance type (enter debit or credit) ________________ 3) Common Stock account balance (numerical answer) ________________ 4) Common Stock account balance type (enter debit or credit) ________________ 5) Net Fixed Assets account balance (numerical answer) ________________ 6) Net Fixed Assets account balance type (enter debit or credit) ________________ 7) Supplies Inventory account balance (numerical answer) ________________ 8) Supplies Inventory account balance type (enter debit or credit) ________________ 9) Accounts Payable account balance (numerical answer) ________________ 10) Accounts Payable account balance type (enter debit or credit) ________________ 11) Accounts Receivable account balance (numerical answer) ________________ 12) Accounts Receivable account balance type (enter debit or credit) ________________ 13) Retained Earnings account balance (numerical answer) ________________ 14) Retained Earnings account balance type (enter debit or credit) ________________