Problem 1-2A
Maria Gonzalez opened a veterinary business in Nashville, Tennessee, on August 1. On August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Office Equipment $6,000, Accounts Payable $3,600, and M. Gonzalez, Capital $13,700. During September the following transactions occurred.
1. Paid $2,900 cash on accounts payable.
2. Collected $1,300 of accounts receivable.
3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account.
4. Earned revenue of $8,000 of which $2,500 is collected in cash and the balance is due in October.
5. Withdrew $1,000 in cash for personal use.
6. Paid salaries $1,700, rent for September $900, and advertising expenses $300.
7. Incurred utility expenses for month on account $170.
8. Received $10,000 from Capital Money Bank - money borrowed on a note payable.
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Maria Gonzalez opened a veterinary business in Nashville, Tennessee, on August 1. On August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Office Equipment $6,000, Accounts Payable $3,600, and M. Gonzalez, Capital $13,700. During September the following transactions occurred.
1. Paid $2,900 cash on accounts payable.
2. Collected $1,300 of accounts receivable.
3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account.
4. Earned revenue of $8,000 of which $2,500 is collected in cash and the balance is due in October.
5. Withdrew $1,000 in cash for personal use.
6. Paid salaries $1,700, rent for September $900, and advertising expenses $300.
7. Incurred utility expenses for month on account $170.
8. Received $10,000 from Capital Money Bank - money borrowed on a note payable.
follow the link to get the answer!!
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