Dec. 1

Maintenance on equipment of $55, paid on account.

Dec. 1

Invests in Research & Development with other dentists of $1,200 on account

Dec. 1

Pays $1,500 on R&D payable.

Dec. 2

Pays rent for office space, $680 for the month.

Dec. 5

Receives $3,125 from patients on account.

Dec. 5

Purchases dental supplies for cash $525.

Dec. 8

Receive cash of $3,575 from patients for services performed.

Dec. 10

Pays miscellaneous office expenses, $175.

Dec. 12

Bills patients $4,975 for services performed.

Dec. 20

Receives $6,757 from patients on account.

Dec. 25

Bills patients $4,125 for services performed.

Dec. 30

Pays the following expenses in cash. Salaries and wages $1,900; miscellaneous office expenses $45.

Dec. 31

Dental Supplies used during September, $415

Dec. 31

Receives $26 interest income on deposit accounts.

Dec. 31

Reserve for Uncollectible Accounts of $1,450

Dec. 31

Accounts deemed uncollectible of $186

Dec. 31

Prepares Closing Entries for Dec.

Instructions:

(a) Enter the transactions shown above in appropriate general ledger accounts (i.e. T-Accounts). Use the following ledger accounts: Cash, Accounts Receivable, Allowance for Uncollectible A/R, Supplies, Equipment, Accumulated Depreciation – Equipment, Accounts Payable, Owner’s Capital, Revenue, Interest Income, Salaries/Wages Expense, Rent Expense, Repairs & Maintenance Exp, Research & Development Expense, Office Expenses, Supplies Expense, Depreciation Expense, Bad Debt Expense, and other applicable accounts.