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On August 31, the balance sheet of Sandhill Veterinary Clinic showed Cash $12,000, Accounts Receivable...

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Accounting

On August 31, the balance sheet of Sandhill Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700, Supplies $600, Equipment $6,000, Accounts Payable $6,600, Common Stock $15,850, and Retained Earnings $850. During September, the following transactions occurred.
Paid $2,850 cash for accounts payable due.
Collected $2,300 of accounts receivable.
Purchased additional equipment for $1,450, paying $850 in cash and the balance on account.
Recognized revenue of $7,600, of which $3,500 is collected in cash and the balance is due in October.
Declared and paid a $1,200 cash dividend.
Paid salaries $1,900, rent for September $1,150, and advertising expense $100.
Incurred utilities expense for month on account $200.
Received $12,000 from Capital Bank on a 6-month note payable.
(a)
Your answer is partially correct.
Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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