On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.1.Paid $2,900 cash for accounts payable due.2.Collected $1,300 of accounts receivable.3.Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account.4.Earned revenue of $7,300, of which $2,500 is collected in cash and the balance is due in October.5.Declared and paid a $400 cash dividend6.Paid salaries $1,700, rent for September $900, and advertising expense $200.7.Incurred utilities expense for month on account $170.8.Received $10,000 from Capital Bank on a 6-month note payable.
