Unit # 1 Assignment - The Accounting Cycle Dr. Bob own's Dr. Bob's Clinic and has the following account balances on December 31, 2019. The company uses one month fiscal periods. The balances are listed in the table below: Cash 35,000 A/P - MD Supplies 1,200 A/R - Keen 4,000 A/P - Pharmaceutical Products 2,800 A/R - Pratt 2,000 Bank Loan 7,000 A/R - Provincial Health 14,000 Dr. Bob, Capital 176,000 Equipment 130,000 Medical Supplies 2,000 1. Open a T-account ledger for each account, in the correct order. 2. Record the following January transactions on a Transaction Analysis Sheet. Jan. C. Pratt, a patient, paid $75 on account. A Bought bandages and other medical supplies from MD Supplies, $78 on credit. 5 Made payment of $800 to Pharmaceutical Products, on account. 9 Paid $90 to Pharmaceutical Products, to reduce the amount owing. 11 Made the regular $200 payment on the bank loan. 13 Received a cheque from Provincial Health for $11,500. 15 Dr. Bob located and purchased an office building and land. The property cost $392,000, with the land portion worth $150,000 and the building worth $242,000. A mortgage was secured from TD Canada Trust for $340,000 and the balance was paid in cash. 20 Purchased a new computer and printer from Ace Computers for $2000 cash. 23 Performed services worth $2200 for a customer who paid in cash. 3. Post all transactions to the T-account ledger. 4. Calculate the new balance for each account. 5. Prepare a trial balance. 6. Create a Balance Sheet for January 31 2020