On August 31, the balance sheet of Concord Veterinary Clinic showed Cash $11,520, Accounts Recelvable...
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On August 31, the balance sheet of Concord Veterinary Clinic showed Cash $11,520, Accounts Recelvable $2,176, Supplies $768, Equipment $7,680, Accounts Payable $4,608, Common Stock $16,640, and Retained Earnings $896. During September, the following transactions occurred. 1. Paid $3,712 cash for accounts payable due. 2. Collected $1,664 of accounts receivable. 3. Purchased additional equipment for $2,688, paying $1,024 in cash and the balance on account. 4. Performed services worth $9,344, of which $3,200 is collected in cash and the balance is due in October. 5. Paid a $512 cash dividend. 6. Paid salaries $2,176, rent for September $1,152, and advertising expense $256. 7. Incurred utilities expense for month on account $208. 8. Received $12,800 from Capital Bank on a 6-month note payable. Stockholders' Equity Retained Earnings $896 Revenues Expenses Assets 1. 2. 3. 4. 5. 6. 7. 8. $
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