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Unformatted text preview: service revenue of $7,000, receiving cash. 07/08-31 Paid cash expenses: employee salaries, $1,700; office rent, $1,000; utilities,$300. 07/28 Sold supplies to another physician for the costs of those supplies, $500. 07/31 Paid $1,500 on account. Requirements: 1. Prepare journal entries for the preceding transactions. 2. Prepare income statement for the month ended 07/31/XX 3. Prepare the balance sheet for 07/31/XX...
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- Spring '11