Reference no: EM132465565

Question 1: Use the following transactions below to create journal entry and a T-Account for each:

Problem a. $30,000 worth of supplies is purchased with cash.

Problem b. $10,000 worth of supplies is used to provide clients with goods and services:

Problem c. Wages due to employees that had been previously recorded as

Problem d. Bills are submitted to insurance companies in the amount of $90,000 for services rendered to patients:

Problem e. Cash payments of $60,000 are received for services previously provided and billed:

Problem f. $5,000 worth of additional supplies are purchased on account:

• In your discussions please provide your reasoning for each of the recording along with your discussions on GAAP principles.