Rec ord the abov e s elec ted trans ac tions in

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Unformatted text preview: able was is s ued for the balanc e. Oct. 12 Is s ued a c hec k for $9,000 in full pay ment of an ac c ount pay able to Zeller Laboratories . Oct. 19 Purc has ed s urgic al s upplies for $2,600. Pay ment is not due until Nov ember 28. Oct. 25 Collec ted a $24,000 ac c ount rec eiv able from Health One Ins uranc e Company . Oct. 30 Dec lared and paid a $300,000 c as h div idend to s toc k holders . Rec ord the abov e s elec ted trans ac tions in general journal form for Sun Orthopedic Clinic , Inc . (Om it the "$" sign in your response.) Date General J ournal Oc t. 1 Cas h Capital s toc k 4 Diagnos tic equipment Cas h Notes pay able 12 Ac c ounts pay able Cas h 19 Surgic al s upplies Ac c ounts pay able e z to.mhe c gr a w- hill.c om/hm_a c c ounting.tpx? todo= pr intvie w Debit 200,000 75,000 9,000 2,600 Credit 200,000 25,000 50,000 9,000 2,600 7/14 11/18/13 Assignme nt Pr int Vie w 25 Cas h Ac c ounts rec eiv able 30 Div idends Cas h 24,000 300,000 24,000 300,000 6. awar d: 25 out of 25.00 points The Mc Millan Corporation inc orporated on September 2, 2011. The c ompany engaged in the following trans ac tions during its firs t month of operations : Sept. 2 Is s ued c apital s toc k in ex c hange for $900,000 c as h. Sept. 4 Purc has ed land and a building for $350,000. The v alue of the land was $50,000, and the v alue of the building was $300,000. The c ompany paid $200,000 c as h and is s ued a note pay able for the balanc e. Sept. 12 Purc has ed offic e s upplies for $600 on ac c ount. The s upplies will las t for s ev eral months . Sept. 19 Billed c lients $75,000 on ac c ount. Sept. 29 Rec orded and paid s alary ex pens e of $24,000. Sept. 30 Rec eiv ed $30,000 from c lients billed on September 19. A partial lis t of the ac c ount titles us ed by the c ompany inc ludes : Cas h Ac c ounts Rec eiv able Offic e Supplies Land Building Notes Pay able Ac c ounts Pay able Capital Stoc k Client Rev enue Salary Ex pens e a. Prepare journal entries for the abov e trans ac tion...
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