On august 31, the balance sheet of la brava veterinary clinic showed

On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.

1.   Paid $2,900 cash for accounts payable due.
2.   Collected $1,300 of accounts receivable.
3.   Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
4.   Recognized revenue of $7,300, of which $2,500 is collected in cash and the balance is due in October.
5.   Declared and paid a $400 cash dividend.
6.   Paid salaries $1,700, rent for September $900, and advertising expense $200.
7.   Incurred utilities expense for month on account $170.
8.   Received $10,000 from Capital Bank on a 6-month note payable.

 

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