As of July 31, C. Mysers Clinic's general ledger balances, listed in alphabetical order of accounts, are as follows: Accounts Balance Accounts Payable $4,787.00 Accounts Receivable 14,286.00 C. Mysers, Capital 48,568.00 C. Mysers, Drawing 2,400.00 Cash 26,816.00 Equipment 19,258.00 Laboratory Expense 1,635.00 Prepaid Insurance 3,080.00 Professional Fees 19,293.00 Rent Expense 1,375.00 Salary Expense 2,340.00 Supplies 650.00 Utilities Expense Required: 808.00 Prepare a trial balance as of July 31, 20--. List all the accounts in the proper order as described in the textbook. If no amount is required, leave the entry b blank. C. Mysers Clinic Trial Balance July 31, 20--

As of July 31, C. Mysers Clinic's general ledger balances, listed in alphabetical order of accounts, are as follows: Accounts Balance Accounts Payable $4,787.00 Accounts Receivable 14,286.00 C. Mysers, Capital 48,568.00 C. Mysers, Drawing 2,400.00 Cash 26,816.00 Equipment 19,258.00 Laboratory Expense 1,635.00 Prepaid Insurance 3,080.00 Professional Fees 19,293.00 Rent Expense 1,375.00 Salary Expense 2,340.00 Supplies 650.00 Utilities Expense Required: 808.00 Prepare a trial balance as of July 31, 20--. List all the accounts in the proper order as described in the textbook. If no amount is required, leave the entry b blank. C. Mysers Clinic Trial Balance July 31, 20--

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Journal Entries for Accounts and Notes ReceivableLancaster, Inc., began business on January 1. Certain transactions for the year follow: Jun.8 Received a $18,000, 60 day, eight percent note on account from R. Elliot. Aug.7 Received payment from R. Elliot on her note (principal plus interest). Sep.1 Received a $21,000, 120 day, nine percent note from B. Shore Company on account. Dec.16 Received a $17,000, 45 day, ten percent note from C. Judd on account. Dec.30 B. Shore Company failed to pay its note. Dec.31 Wrote off B. Shore's account as uncollectible. Lancaster, Inc., uses the allowance method of providing for credit losses. Dec.31 Recorded expected credit losses for the year by an adjusting entry. Accounts written off during this first year have created a debit balance in the Allowance for Doubtful Accounts of $25,600. An analysis of aged receivables indicates that the desired balance of the allowance account should be $22,500. Dec.31 Made the…
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Prepare adjusting entries per instructions
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Prepare journal entries for each transaction
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