Exercise 2 - account and the accounts payable account as of...

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Exercise 2 J.F.Outz, M.D., has been practicing as a cardiologist for three years. During April, 2007, Outz completed the following transactions in her practice of cardiology. Apri l 1 Paid office rent for April, $800. 3 Purchased equipment on account, $2,100. 5 Received cash on account from patients, $3,150 8 Purchased X-ray film and other supplies on account, $245. 9 One of the items of equipment purchased on April 3 was defective. It was returned with the permission of the supplier, who agreed to reduce the account for the amount charged for the item, $325. 12 Paid cash to creditors on account, $1,250. 17 Paid cash for renewal of a six-month property insurance policy, $370. 20 Discovered that the balances of the cash
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Unformatted text preview: account and the accounts payable account as of April 1 were overstated by $200. A payment of that amount to a creditor in March had not been recorded. Journalize the $200 payment as of April 20. 24 Paid cash for laboratory analysis, $545. 27 Paid cash from business bank account for personal and family expenses, $1,250. 30 Recorded the cash received in payment of services (on a cash basis) to patients during April, $1,720. 30 Paid salaries of receptionist and nurses, $1,725. 30 Paid various utility expenses, $360. 30 Recorded fees charged to patients on account for services performed in April, $5,145. 30 Paid miscellaneous expenses, $132....
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Exercise 2 - account and the accounts payable account as of...

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