• October 31st, 2015

Recording Financial Information

Order Instructions/Description

 

  1. Create a journal entry and a T-Account for each of the following transactions:
  2. $15,000 worth of equipment is purchased on credit.
  3. $40,000 of patient bills from last year are collected in cash.
  4. $10,000 is received from a managed care company for services to be rendered next year for members

 

  1. Create a journal entry and a T-Account for each of the following transactions:
  2. $5,000 of accounts payable is paid in cash.
  3. $30,000 of cash is received from taking out a note with the local bank.
  4. $10,000 of accounts receivable from last year is received in cash.

 

 

Note:

 

**No need of reference

 

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