Actual question is in all CAPS and BOLD at bottom of page, only complete answer

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Actual question is in all CAPS and BOLD at bottom of page, only complete answer will recieve more than one star, five! Thanks a lot.

At the end of July the accounts for Doctor Z's practice were as follows:

Cash $25,000

Accounts Recievable $1,300

Allowances for Doubtful Accounts $250

Supplies $430

Prepaid Rent $5,000

Equipment $25,000

Accumulated Depreciation $11,000

Accounts Payable $2,350

Notes Payable $2,430

Unrestricted Net Assets $40,700

In August, Doctor Z made the following transactions:

Purchased Medical supplies for cash $750

Recieved cash from patients who had already been billed $1,000

Delivered services for cash $1,300

Paid Principle on bank note $1,200

Purchased lab equipment for $2,500

Paid Cash in the amount of $1,450   

Owes the remainder of $1,050

RECORD THE AUGUST TRANSACTIONS WITH THE PROPER DEBIT/CREDIT ENTRIES USING THE ACCOUNTS LISTED ABOVE FOR DOCTOR Z.

Explanation / Answer

1. Purchased Medical Supplies for Cash

DR Supplies $750

CR Cash $750

2. Received cash from patients who had already been billed

DR Cash $1000

CR Accounts Receivable $1000

3. Delivered Services for Cash

DR Cash $1300

CR Unrestricted Net Assets $1300

(Typically the Service Revenue account would be credited but Unrestricted Net Assets must represent that account)

4. Paid principle on bank note

DR Notes Payable $1200

CR Cash $1200

5.Purchased Lab Equipment/Paid Cash in the Amount of/Owes the Remainder of

DR Equipment $2500

CR Cash $1450

CR Accounts Payable $1050  

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