General Journal
Date P.R. Debit Credit
2010
Oct. 1 Cash 110 250,000.00
Marasigan, Capital 310 250,000.00
Invstment.
1 Medical Building 160 1,000,000.00
Land 150 250,000.00
Cash 110 50,000.00
20% Notes Payable 220 1,200,000.00
Acquired medical building and land on account.
1 Medical Equipment 170 420,000.00
Medical Supplies 130 39,000.00
Cash 110 59,000.00
24% Notes Payable 210 400,000.00
Acquired medical equipment and medical supplies on account.
2 Prepaid Insurance 140 20,000.00
Cash 110 20,000.00
Acquired insurance for a year.
4 Cash 110 117,000.00
Medical Revenues 410 117,000.00
Received cash for services rendered.
7 Medical Supplies 130 17,000.00
Accounts Payable 230 17,000.00
Acquired medical supplies on account.
10 Salaries Expence 510 73,000.00
Cash 110 73,000.00
Paid salaries expense.
12 Cash 110 90,000.00
Unearned Research Revenues 260 90,000.00
Received cash for services to be conducted in the future.
18 Accounts Receivable 120 317,000.00
Medical Revenues 410 317,000.00
Billed patients for services rendered.
21 Repairs Expense 530 23,000.00
Cash 110 23,000.00
Paid repairs expense.
23 Telephone Expense 560 3,000.00
Cash 110 3,000.00
Paid telephone bill.
24 Medical Equipment 170 45,000.00
Accounts Payable 230 45,000.00
Acquired medical equipment on account.
, General Journal
Date Account Titles and Explanation P.R. Debit Credit
2010
Oct. 25 Cash 110 113,000.00
Accounts Receivable 120 113,000.00
Collection of accounts receivable.
27 Accounts Payable 230 13,000.00
Cash 110 13,000.00
Payment of liabilities.
30 Marasigan, Withdrawals 320 200,000.00
Cash 110 200,000.00
Withdrawal.
30 Association Dues Expense 550 15,000.00
Cash 110 15,000.00
Paid association dues expense.
30 Insurance Expense 520 1,666.67
Prepaid Insurance 140 1,666.67
Insurance for one month has expired.
30 Supplies Expense 540 35,000.00
Medical Supplies 130 35,000.00
Expired medical supplies.
30 Depreciation Expense-Medical Building 570 5,000.00
Accumulated Depreciation-Medical Building 165 5,000.00
Depreciation of medical building.
30 Depreciation Expense-Medical Equipment 580 9,000.00
Accumulated Depreciation-Medical Equipment 175 9,000.00
Depreciation of medical equipment.
30 Unearned Research Revenues 260 30,000.00
Research Revenues 420 30,000.00
Unearned Revenue.
30 Salaries Expense 510 51,000.00
Salaries Payable 240 51,000.00
Accrued salaries.
30 Interest Expense 590 28,000.00
Interest Payable 250 28,000.00
Accrued interest.
30 Medical Revenues 410 434,000.00
Research Revenues 420 30,000.00
Income Summary 330 464,000.00
Date P.R. Debit Credit
2010
Oct. 1 Cash 110 250,000.00
Marasigan, Capital 310 250,000.00
Invstment.
1 Medical Building 160 1,000,000.00
Land 150 250,000.00
Cash 110 50,000.00
20% Notes Payable 220 1,200,000.00
Acquired medical building and land on account.
1 Medical Equipment 170 420,000.00
Medical Supplies 130 39,000.00
Cash 110 59,000.00
24% Notes Payable 210 400,000.00
Acquired medical equipment and medical supplies on account.
2 Prepaid Insurance 140 20,000.00
Cash 110 20,000.00
Acquired insurance for a year.
4 Cash 110 117,000.00
Medical Revenues 410 117,000.00
Received cash for services rendered.
7 Medical Supplies 130 17,000.00
Accounts Payable 230 17,000.00
Acquired medical supplies on account.
10 Salaries Expence 510 73,000.00
Cash 110 73,000.00
Paid salaries expense.
12 Cash 110 90,000.00
Unearned Research Revenues 260 90,000.00
Received cash for services to be conducted in the future.
18 Accounts Receivable 120 317,000.00
Medical Revenues 410 317,000.00
Billed patients for services rendered.
21 Repairs Expense 530 23,000.00
Cash 110 23,000.00
Paid repairs expense.
23 Telephone Expense 560 3,000.00
Cash 110 3,000.00
Paid telephone bill.
24 Medical Equipment 170 45,000.00
Accounts Payable 230 45,000.00
Acquired medical equipment on account.
, General Journal
Date Account Titles and Explanation P.R. Debit Credit
2010
Oct. 25 Cash 110 113,000.00
Accounts Receivable 120 113,000.00
Collection of accounts receivable.
27 Accounts Payable 230 13,000.00
Cash 110 13,000.00
Payment of liabilities.
30 Marasigan, Withdrawals 320 200,000.00
Cash 110 200,000.00
Withdrawal.
30 Association Dues Expense 550 15,000.00
Cash 110 15,000.00
Paid association dues expense.
30 Insurance Expense 520 1,666.67
Prepaid Insurance 140 1,666.67
Insurance for one month has expired.
30 Supplies Expense 540 35,000.00
Medical Supplies 130 35,000.00
Expired medical supplies.
30 Depreciation Expense-Medical Building 570 5,000.00
Accumulated Depreciation-Medical Building 165 5,000.00
Depreciation of medical building.
30 Depreciation Expense-Medical Equipment 580 9,000.00
Accumulated Depreciation-Medical Equipment 175 9,000.00
Depreciation of medical equipment.
30 Unearned Research Revenues 260 30,000.00
Research Revenues 420 30,000.00
Unearned Revenue.
30 Salaries Expense 510 51,000.00
Salaries Payable 240 51,000.00
Accrued salaries.
30 Interest Expense 590 28,000.00
Interest Payable 250 28,000.00
Accrued interest.
30 Medical Revenues 410 434,000.00
Research Revenues 420 30,000.00
Income Summary 330 464,000.00
