Question

Juana Chavez opened a doctor's office as a corporation. During her first month, the following events and transactions occurred. 1-Oct Stockholders invested $100,000 into the business in exchange for common stock. 2 Hired an secretary, starting tomorrow, to be paid: $ 750 per week. 3 Paid one year insurance in advance, $ 1,800 6 Purchased medical supplies for: $ 2,000 paid $ 400 in cash, the remainder to be paid in two weeks. 9 Provided medical services of $3,400 and billed insurance companies. 17 Paid the secretary's weekly wage in cash (one week only). 17 Provided medical services of $680 and was paid in cash. 20 Paid for the remainder of the supplies purchased on the 6th. 21 Received $ 1,100 in advance of a medical procedure to be performed. 23 Billed S 80 to a student who will pay in three days. 31 Received an electric bill for $ 50 for the prior month's service. Instructions: In the journal provided, prepare journal entries in good form) for the following transactions. If no entry is required, write "no entry."

Answer 1

Journal Entries
Date	Particulars			Debit	Credit
1-Oct	Cash			$ 100,000.00
	To Common Stock				$ 100,000.00
2-Oct	No entry required
3-Oct	Prepaid Insurance			$     1,800.00
	To Cash				$     1,800.00
6-Oct	Office Supplies			$     2,000.00
	To Cash				$        400.00
	To Accounts Payable				$     1,600.00
9-Oct	Accounts Receivable			$     3,400.00
	To Service Revenue				$     3,400.00
17-Oct	Wages Expense			$        750.00
	To Cash				$        750.00
17-Oct	Cash			$        680.00
	To Service Revenue				$        680.00
20-Oct	Accounts Payable			$     1,600.00
	To Cash				$     1,600.00
21-Oct	Cash			$     1,100.00
	To Unearned Revenue				$     1,100.00
23-Oct	Accounts Receivable			$           80.00
	To Service Revenue				$           80.00
31-Oct	Electric Bill Expense			$           50.00
	To Bills Payable				$           50.00