Record the following sclected transactions in general journal form for Quantum Clinic, Inc. Include a brief explanation of the transaction as part of each journal entry. LO3-3 through LO3-5 BRIEF EXERCISE 3.2 Recording Transactions in a The clinic issued 5,000 additional shares of capital stock to Doctor Soges at $60 per Oct. 1 Journal share. The clinic purchased diagnostic cquipment. The equipment cost $250,000, of which S100,000 was paid in cash; a note payable was issued for the balance. Oct. 4

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Posting of transaction from General Journal to T-Accounts

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LO3-3 through LO3-5
BRIEF EXERCISE 3.2
Record the following sclected transactions in general journal form for Quantum Clinic, Inc.
Include a brief explanation of the transaction as part of each journal entry.
The clinic issued 5,000 additional shares of capital stock to Doctor Soges at $60 per
Recording Transactions in a
Journal
Oct. 1
share.
The clinic purchased diagnostic equipment. The equipment cost $250,000, of which
$100,000 was paid in cash; a note payable was issued for the balance.
Oct. 4
Transcribed Image Text:LO3-3 through LO3-5 BRIEF EXERCISE 3.2 Record the following sclected transactions in general journal form for Quantum Clinic, Inc. Include a brief explanation of the transaction as part of each journal entry. The clinic issued 5,000 additional shares of capital stock to Doctor Soges at $60 per Recording Transactions in a Journal Oct. 1 share. The clinic purchased diagnostic equipment. The equipment cost $250,000, of which $100,000 was paid in cash; a note payable was issued for the balance. Oct. 4
Oct. 12
Issued a check for $6,000 in full payment of an acccunt payable to Zeller
Laboratories.
Purchased surgical supplies for $4,000. Payment is not due until November 28.
Collected a $80,000 account receivable from Health One Insurance Company.
Declared and paid a $500,000 cash dividend to stockholders.
Oct. 19
Oct. 25
Oct. 30
Transcribed Image Text:Oct. 12 Issued a check for $6,000 in full payment of an acccunt payable to Zeller Laboratories. Purchased surgical supplies for $4,000. Payment is not due until November 28. Collected a $80,000 account receivable from Health One Insurance Company. Declared and paid a $500,000 cash dividend to stockholders. Oct. 19 Oct. 25 Oct. 30
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