50.1K

Verified Solution

Link Copied!

Carol Stansbury is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested 17,800 cash in her business in exchange for ordinary shares. 1 Hired a secretary-receptionist at a salary of 623 per week payable monthly. 2 Paid office rent for the month 979. 3 Purchased dental supplies on account from Dazzle Company 3,560. 10 Performed dental services and billed insurance companies 4,539. 11 Received 890 cash advance from Leah Mataruka for an implant. 20 Received 1,869 cash for services performed from Michael Santos. 30 Paid secretary-receptionist for the month 2,492. 30 Paid 2,136 to Dazzle for accounts payable due. Carol uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Share Capital-Ordinary, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Journalize the tranactions. (Recond entries in the onder displayed in the problem statement. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent

Answer & Explanation Solved by verified expert

See Answer