Question - During October 2016, Paws Veterinary Clinic completed the following transactions:
Oct. 1-Paws received $30,000 cash and issued common shares to shareholders
Oct. 4-Purchased supplies, $1,000, and equipment, $2,600 on account
Oct. 5-Performed checkup services, and received cash, $1,500
Oct. 7-Paid cash to acquire land for an office site, $22,000
Oct. 11-Performed a surgery on a sick cat, and billed the customer $500
Oct. 16-Paid for the equipment, purchased Oct 4 on account
Oct. 17-Paid the telephone bill, $95
Oct. 18-Received partial payment from client on account, $250
Oct. 22-Paid the water and electricity bills, $400
Oct. 29-Received $2,000 cash for conducting a workshop on "Healthy Cat Living"
Oct. 31-Paid employee salary, $1,300
Oct. 31-Declared and paid dividends of $1,500
Record each transaction in the journal. Key each transaction by date. Explanations are not required.
Prepare the trial balance of Paws at October 31, 2016.