Question

Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $21,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $4,700. 10 Performed dental services and billed insurance companies $4,600. 11 Received $1,400 cash advance from Leah Mataruka for an implant. 20 Received $1,500 cash for services performed from Michael Santas. 30 Paid secretary-receptionist for the month $2,400. 30 Paid $2,820 to Dazzle for accounts payable due. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit (Owner’s investment of cash in business) (Hired a secretary-receptionist) (Paid monthly office rent) (Purchased supplies on account from Dazzle Company) (Billed clients for services performed) (Received cash for future service) (Received cash for services performed) (Paid monthly salary) (Paid Dazzle Company on account) SHOW LIST OF ACCOUNTS Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) Cash No. 101 Date Explanation Ref Debit Credit Balance J1 J1 J1 J1 J1 J1 Accounts Receivable No. 112 Date Explanation Ref Debit Credit Balance J1 Supplies No. 126 Date Explanation Ref Debit Credit Balance J1 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance J1 J1 Unearned Service Revenue No. 209 Date Explanation Ref Debit Credit Balance J1 Owner’s Capital No. 301 Date Explanation Ref Debit Credit Balance J1 Service Revenue No. 400 Date Explanation Ref Debit Credit Balance J1 J1 Salaries and Wages Expense No. 726 Date Explanation Ref Debit Credit Balance J1 Rent Expense No. 729 Date Explanation Ref Debit Credit Balance J1 SHOW LIST OF ACCOUNTS Prepare a trial balance on April 30, 2017. EMILY VALLEY, DENTIST Trial Balance Debit Credit $ $ Totals $ $ SHOW LIST OF ACCOUNTS

Answer 1