Problem 1-2A (Part Level Submission)
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $10,017, Accounts Receivable $3,417, Supplies $600, Equipment $6,000, Accounts Payable $5,317, Common Stock $13,962, and Retained Earnings $755. During September, the following transactions occurred.
| 1. |
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Paid $2,747 cash for accounts payable due. |
| 2. |
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Collected $1,407 of accounts receivable. |
| 3. |
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Purchased additional equipment for $2,004, paying $818 in cash and the balance on account. |
| 4. |
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Earned revenue of $7,940, of which $2,680 is collected in cash and the balance is due in October. |
| 5. |
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Declared and paid a $1,115 cash dividend |
| 6. |
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Paid salaries $2,507, rent for September $1,185, and advertising expense $131. |
| 7. |
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Incurred utilities expense for month on account $267. |
| 8. |
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Received $12,192 from Capital Bank on a 6-month note payable. |
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