Alignment Number Styles 24 Davis & Bell began a health clinic as a corporation i

Question

Alignment Number Styles 24 Davis & Bell began a health clinic as a corporation in 2014. Several transactions which occurred early in 2014 are descibed below. Record each transaction in proper journal entry form, excluding written explanations. 5 Required: 5 points each 6 Record each transaction in proper journal entry form,excluding written explanations 8 A1/15/2014 Stockholders invested $90,000 in the business and received shares of common stock as evidence of ownership. Rent of $2,000 was paid for the month of February Equipment with a cost of $10,000 was purchased on credit; payment is due 10 B 2/1/2014 12 131 C 2/10/2014 in 30 days. 15 16 D 2/14/2014 Fees totaling $5,500 were billed to patients; $3,000 was collected immediately 17 18 and the balance of $2,500 is due within 30 days. 19E 20 2/19/2014 Full payment was made for the equipment purchased on February 10th. Points 21 REQUIRED 23 1 Record each transaction in oroper iournal entrv form. excludine written exolanations Problem #1 Problem #2 : Problem #3 Ready ? @??N& e. 0 Type here to search

Explanation / Answer

Date Accounting Titles and Explanation Debit Credit 1/15/2014 Cash 90000 Common stock 90000 2/1/2014 Rent Expense 2000 Cash 2000 2/10/2014 Equipment 10000 Accounts payable 10000 2/14/2014 Cash 3000 Accounts receivable 3000 2/19/2014 Accounts payable 10000 Cash 10000

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.