Reference no: EM132380165
Question
On July 31, 2017, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8,760, Accounts Receivable $2,630, Supplies $530, Equipment $15,300, Notes Payable $10,590, Accounts Payable $810, L. Meche, Capital $15,000, L. Meche, Drawings $5,330, Fees Earned $9,260, Rent Expense $1,010, and Salaries Expense $2,100. Selected transactions during August 2017 follow:
Date Account Titles Debit Credit
2017
Aug. 1 Rent Expense 1,010
Cash 1,010 10
Accounts Payable 440
Cash 440 12
Cash 2,580
Accounts Receivable 2,580 25
Salaries Expense 2,100
Cash 2,100 30
Notes Payable 460
Interest Expense 65
Cash 525 31
Cash 6,180
Accounts Receivable 2,360
Fees Earned 8,540 31
L. Meche, Drawings 4,670
Cash 4,670
Make T accounts and enter the July 31 balances. Make the transactions to the T accounts. (Make entries in the order of journal entries presented in the previous part.)
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