Which accounts are effected?
Problem 1-2A (Part Level Submission)
On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $10,533, Accounts Receivable $3,933, Supplies $600, Equipment $6,000, Accounts Payable $5,833, Common Stock $14,290, and Retained Earnings $943. During September, the following transactions occurred.
1. Paid $1,997 cash for accounts payable due.
2. Collected $2,222 of accounts receivable.
3. Purchased additional office equipment for $2,939, paying $828 in cash and the balance on account.
4. Earned revenue of $8,704, of which $1,831 is collected in cash and the balance is due in October.
5. Declared and paid a $2,074 cash dividend
6. Paid salaries $1,882, rent for September $1,111, and advertising expense $125.
7. Incurred utilities expense for month on account $353.
8. Received $11,993 from Capital Bank on a 6-month note payable.