DATE DESCRIPTION

10/1/2017 Initial investment

10/1/2017 Purchase of land and medical building by paying 50,000 c

10/1/2017 Purchase of equipment and supplies by paying 59,000 cash

10/2/2017 Acquisition of "all in one" insurance for a year

10/4/2017 Received cash from patients

10/7/2017 Bought medical supplies on account

10/10/2017 Payment of salaries

10/12/2017 Unearned Revenue from Laguna Exp.

10/18/2017 Receivable from patients

10/21/2017 Repairs for medical equipment.

10/23/2017 Payment of telephone bill.

10/24/2017 Purchase of 2nd hand equipment on account

10/25/2017 Collection of A/R

10/25/2017 Payment of salaries

10/27/2017 Payment of A/P

10/30/2017 Withdrawals from medical practice

10/30/2017 Annual dues

10/30/2017 Depreciation of building

10/30/2017 Depreciation of equipment

10/30/2017 Adjustment of supplies

10/30/2017 Accrual of salaries

10/30/2017 Adjustment of insurance

Accrual of interest
 ACCOUNT TITLE R/F DEBIT
Cash 250,000
Marasigan, Capital
Medical Building 1,000,000
Land 250,000
Cash
20% Notes Payable
Medical Equipment 420,000
Medical Supplies 39,000
Cash
24% Notes Payable
Prepaid Insurance 20,000
Cash
Cash 117,000
Medical Revenues
Medical Supplies 17,000
Accounts Payable
Salaries Expense 73,000
Cash
Cash 90,000
Unearned Research Revenues
Accounts Receivable 317,000
Medical Revenues
Repairs Expense 23,000
Cash
Telephone Expense 3,000
Cash
Medical Equipment 45,000
Accounts Payable
Cash 113,000
Accounts Receivable
Salaries Expense 110,000
Cash
Accounts Payable 13,000
Cash
Marasigan, Withdrawals 100,000
Cash
Association Dues Expense 15,000
Cash
Depreciation Expense- Building 5,000
A/D- Medical Building
Depreciation Expense- Equipment 3,000
A/D- Medical Equipment
Supplies Expense 35,000
Medical Supplies
Salaries Expense 38,000
Salaries Payable
Insurance Expense 1,667
 Prepaid Insurance
Interest Expense 28,000
Interest Payable
CREDIT

250,000

50,000
1,200,000

59,000
400,000

20,000

117,000

17,000

73,000

90,000

317,000

23,000

3,000

45,000

113,000

110,000

13,000

100,000

15,000

5,000

3,000

35,000

38,000
 1,667

28,000
DATE DESCRIPTION ACCOUNT TITLE
11/5/2017 Acquisition of supplies on account Medical Supplies
Accounts Payable
11/10/2017 Payment of salaries Salaries Expense
Cash
11/12/2017 Received cash from patients Cash
Medical Revenues
11/19/2017 Receivable from patients Accounts Receivable
Medical Revenues
11/25/2017 Payment of salaries Salaries Expense
Cash
11/26/2017 Payment of telephone bill Telephone Expense
Cash
11/26/2017 Collection of A/R Cash
Accounts Receivable
11/27/2017 Payment of A/P Accounts Payable
Cash
11/27/2017 Withdrawals from medical practice Marasigan, Withdrawals
Cash
11/27/2017 Adjustment of supplies Supplies Expense
Medical Supplies
11/27/2017 Accrual of salaries Salaries Expense
Salaries Payable
11/27/2017 Depreciation of building Depreciation Expense- Building
A/D- Medical Building
11/27/2017 Depreciation of equipment Depreciation Expense- Equipment
A/D- Medical Equipment
11/27/2017 Adjustment of insurance Insurance Expense
Prepaid Insurance
Accrual of interest Interest Expense
Interest Payable
Earned revenues Unearned Research Revenues
Research Revenues
R/F DEBIT CREDIT
44,000
44,000
108,000
108,000
122,000
122,000
325,000
325,000
109,000
109,000
3,000
3,000
219,000
219,000
40,000
40,000
100,000
100,000
60,000
60,000
38,000
38,000
5,000
5,000
3750
3750
1,667
1,667
28,000
28,000
30,000
30,000
DATE DESCRIPTION ACCOUNT TITLE
12/4/2017 Acquisition of supplies on account Medical Supplies
Accounts Payable
12/4/2017 Received cash from patients Cash
Medical Revenues
12/10/2017 Payment of salaries Salaries Expense
Cash
12/18/2017 Receivable from patients Accounts Receivable
Medical Revenues
12/24/2017 Collection of A/R Cash
Accounts Receivable
12/24/2017 Payment of salaries Salaries Expense
Cash
12/28/2017 Payment of telephone bill Telephone Expense
Cash
12/28/2017 Payment of A/P Accounts Payable
Cash
12/28/2017 Withdrawals from medical practice Marasigan, Withdrawals
Cash
12/28/2017 Adjustment of supplies Supplies Expense
Medical Supplies
12/28/2017 Accrual of salaries Salaries Expense
Salaries Payable
12/28/2017 Depreciation of building Depreciation Expense- Building
A/D- Medical Building
12/28/2017 Depreciation of equipment Depreciation Expense- Equipment
A/D- Medical Equipment
12/28/2017 Adjustment of insurance Insurance Expense
Prepaid Insurance
Accrual of interest Interest Expense
Interest Payable
Earned revenues Unearned Research Revenues
Research Revenues
R/F DEBIT CREDIT
60,000
60,000
131,000
131,000
115,000
115,000
332,000
332,000
332,000
332,000
172,500
172,500
3,000
3,000
63,000
63,000
100,000
100,000
58,000
58,000
38,000
38,000
5,000
5,000
3,750
3,750
1,667
1,667
28,000
28,000
30,000
30,000
DATE DESCRIPTION
1/4/2018 Purchase of supplies on account

1/4/2018 Received cash from patients

1/8/2018 Payment of salaries

1/11/2018 Hired 2 new production staffs

1/12/2018 Purchase of raw materials on credit

1/18/2018 Receivable from patients

1/25/2018 Collections from customers

1/25/2018 Payment of salaries and wages

1/28/2018 Payment of telephone bill

1/29/2018 Payment of accounts payable

1/29/2018 Withdrawals from medical practice

 ACCOUNT TITLE R/F DEBIT CREDIT
Medical Supplies 70000
Accounts Payable 70000
Cash 131000
Medical Revenues 131000
Salaries Expense 45500
Cash 45500

Raw Materials 350000

Accounts Payable 350000
Accounts Receivable 373000
Medical Revenues 373000
Cash 210000
Accounts Receivable 210000

Telephone Expense 3000

Cash 3000
Accounts Payable 65000
Cash 65000
OTSO OTSO, Withdrawals 150000
Cash 150000