Taylor Moffat opened a veterinary practice. Record the following transactions in the journal of Taylor Moffat, Veterinarian. Include an explanation with each journal entry.
Sept. 1 Moffat invested $32,000 cash in a business bank account to start her practice. The business received the cash and gave Moffat owner's equity in the business.
2 Purchased medical supplies on account, $9,500.
2 Paid cash for September's office rent of $4,100.
3 Recorded $6,800 revenue for service rendered to patients on account.