Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.April 1-Invested $ 23,000 cash in her business.April 1-Hired a secretary-receptionist at a salary of $ 900 per week payable monthly.April 2-paid office rent for the month $ 1,000.April 3-Purchased dental supplies on account from Dazzle Company $ 4,500.April 10-Performed dental services and billed insurance companies $ 4,700.April 11-Received $ 1,100 cash advance from Leah Mataruka for an implant.April 20- Received $ 1,900 cash for services performed from Michael Santos.April 30- Paid secretary-receptionist for the month $ 3,600.April 30-Paid $ 2,900 to Dazzle Below is a transcription and description of the accounting form suitable for an Educational website:---**Accounting Journal Template****Date** | **Account Titles and Explanation** | **Debit**1. [ ] _______________ | _______________ - *(Owner’s investment of cash in business)*2. [ ] _______________ | _______________ - *(Hired a secretary-receptionist)*3. [ ] _______________ | _______________ - *(Paid monthly office rent)*4. [ ] _______________ | _______________ - *(Purchased supplies on account from Dazzle Company)*5. [ ] _______________ | _______________ - *(Billed clients for services performed)*6. [ ] _______________ | _______________ - *(Received cash for future service)*---**Explanation:**This accounting journal template is designed to help businesses and accounting students record financial transactions. It includes columns for the date, account titles with explanations, and the debit amount.- **Owner’s Investment:** This entry is used to record when the owner invests cash into the business.- **Hiring a Secretary-Receptionist:** This transaction records the hiring of an employee and any associated financial implications.- **Monthly Office Rent Payment:** This entry tracks the regular payment of office rent.- **Supplies Purchased on Account:** Used to document purchasing supplies from a vendor (e.g., Dazzle Company) on credit.- **Client Billing for Services:** When services are performed for clients, this entry records the billing process.- **Cash Received for Future Services:** This entry is for documenting any cash received in advance for services to be provided later.By effectively using this journal, businesses can organize their financial information and keep track of cash flow. The image appears to be a form or template used for recording financial transactions, possibly for accounting purposes. It includes blank lines next to specific transaction descriptions where details such as amounts or dates may be filled in.1. **First Section:** - Two empty fields are provided for input.2. **Transaction: (Received cash for services performed)** - Two more blank fields following this description, likely for details like the amount of cash received and the date of transaction.3. **Transaction: (Paid monthly salary)** - Again, two blank fields are present, typically for entering the salary amount and payment date.4. **Transaction: (Paid Dazzle Company on account)** - The last set of lines follows this description, probably meant for the payment amount and any related notes about the transaction.This layout helps in systematically recording income and expenditure for an individual or organization, ensuring proper tracking and organization of financial activities.

Journal entries - Journal entries are the very first step of recording the events or transactions.…

Answered: Vera Ernst is a licensed dentist.…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q