Dr. Nick Marasigan, upon completing a residency program at Harvard Medical Center, Problem #8 month of operations, the following transactions occurred: comprehensive Problem a medical practice in San Pablo, Laguna, During October 2018, the mst established Dr. Marasigan transferred P250,000 from his personal checking account to a bank account, Dr. Nick Marasigan, M.D. Oct. 1 A medical clinic, P1,000,000 and land, P250,000 were acquired by payling P50,000 in cash and issuing a 5-year, 20% note payable (interest is payable every 6 months) for the P1,200,000 balance. Acquired medical equipment costing P420,000 and medical supplies amounting to P39,000 by paying P59,000 cash and issuing a 24% note payable, maturing in 6 months, for the P400,000 balance. Acquired "all-in-one" insurance for a year, P20,000. Received cash from patients amounting to P117,000. Bought medical supplies on account from San Pablo Supply, P17,000. Paid salaries of nurses and office staff, P73,000. 1 2. 4 10 Received P90,000 from the Laguna Experimental Drug Center for research to be conducted by Dr. Marasigan over the next 3 months. Billed patients P317,000 for services rendered. Paid P23,000 for repairs to the medical equipment. Paid the telephone bill, P3,000. Bought medical equipment on account from Dr. De Leon, P45,000. Collected P113,000 from patients billed on the 18th. 12 18 21 23 24 25 Paid P13,000 on account to San Pablo Supply. Withdrew P200,000 in cash from the medical practice. 27 30 30 Paid P15,000 dues to the Laguna Medical Association. Required; 1. Establish the following accounts and account numbers in a ledger. Account No. Account No. Marasigan, Capital Marasigan, Withdrawals Income Summary Medical Revenues Cash 110 310 Accounts Receivable 120 320 130 330 Medical Supplies Prepaid Insurance Land 140 410 Research Revenues 420 150 Salaries Expense Insurance Expense Repairs Expense Supplies Expense 510 Medical Building 160 520 Accumulated Depreciation- 530 165 Medical Building Medical Equipment 540 170