Instruction: Use Journal Sheet (Yellow or White) for the Performance TasksPerformance Task No. 1- On Mar. 1, 2009, Samuel Barbo, a recent medical boardtopnotcher, started his medical practice. During the month of March, the following transactionswere completed.Mar. 1Barbo invested P42,500 personal funds in a new bank account in thename of Samuel Barbo, M.D.Acquired medical equipment costing P95,000 from Tambilo MedicalEquipment Company, paying P15,000 cash, and financing theremainder issuing a P80,000 note payable.Paid rent for the month of March, P7,500.Acquired Medical Supplies from Suiza Medical Supply Company onaccount, P15,250.Received P18,450 in cash from patients for medical services renderedthis week.237Paid Pablo Labs for preparing laboratory work on a patient, P1,800.Paid salaries of medical technician and receptionist, P9,600.1215Billed patients P51,700 for services rendered.17Paid Suiza Medical Supply Company P3,750 on account.Paid telephone expense, P850.Paid miscellaneous expense, P1,150.Received P27,50o from patients billed on Mar. 15.20212223 Acquired additional medical supplies from Suiza Medical SupplyCompany on account, P9,100.Paid salaries, P11,200.2526Billed patients P40,150 for services rendered.27Paid Suiza Medical Supply Company, P6,150 on account.28Withdrew P15,000 from medical practice.Required:1. Prepare the journal entries for the March transactions.2. The following accounts will be needed: Cash(110); Accounts Receivable(120; MedicalSupplies(130); Medical Equipment(140); Notes Payable(210); Accounts Payable(220);Barbo, Capital(310); Barbo, Withdrawals(320); Medical Revenues(410); Salaries Expense(510); Rent Expense (520); Laboratory Expense(530); Telephone Expense(540) andMiscellaneous Expense(550).

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Description: Instruction: Use Journal Sheet (Yellow or White) for the Performance TasksPerformance Task No. 1- On Mar. 1, 2009, Samuel Barbo, a recent medical boardtopnotcher, started his medical practice. During the month of March, the following transactionswer

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ested P42,500 personal funds in a new bar amuel Barbo, M.D. nedical equipment costing P95,000 from Company, paying P15,000 cash, and fina issuing a P80,000 note payable. or the month of March, P7,500. fedical Sunplies from Sunr Suiza Meddical

ested P42,500 personal funds in a new bar amuel Barbo, M.D. nedical equipment costing P95,000 from Company, paying P15,000 cash, and fina issuing a P80,000 note payable. or the month of March, P7,500. fedical Sunplies from Sunr Suiza Meddical

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter4: Posting To A General Ledger

Section4.2: Posting From A General Journal To A General Ledger And Proving Cash

Problem 1WT

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