Reference no: EM132911728
Question - Melchor Bombeo opened a clinic under the name Bombeo Chiropractic Clinic. The following transactions occurred during June 2016:
June 1 - Bombeo invested P180,000 cash in his professional practice. He invested in the firm his professional (medical) equipment with a fair market value of P72,000.
June 3 - Bought Office filing cabinet on account from Firmo Office Essentials, P3,260.
June 4 - Paid cash for chairs for the waiting room, P4,620. Tables for P2,500.
June 5 - Bought medical supplies on account, P25,000. from Berovan Medical Supplies. Issued a promissory note of the same.
June 6 - Bought a copier for P15,400. From Penaco Company, paying down, P7,400. The balance on the account.
June 8 - Paid telephone bill, P910.
June 10 - Billed Ms. Lee for professional services performed to her, P16,500.
June 12 - Paid P1,800 as membership dues to the national chiropractic association.
June 14 - Paid electric bill, P910.
June 15 - Received from Ms. Lee, P10,500 in partial settlement of her account.
June 16 - Paid Firmo Office Essentials, in full of account.
June 20 - Paid office rent for the month, P5,000.
June 25 - Received P6,500 cash from walk-in patients.
June 26 - Paid salaries of nurse assistants, P10,000.
June 28 - Billed Mrs. Santos for services rendered, P7,500.
June 29 - Withdrew cash for personal use, P10,000.
June 30 - Received cash from walk-in patients, P12,000.
- Paid Berovan Supplies partial, P15,000.
- Actual count showed medical supplies used for the month, P12,500.
- Received from Mrs. Santos partial of account, P5,000.
Required - From the given data above prepare: Journal entries. T-Accounts (Posting) and Trial Balance.
Note: Submit only the Trial Balance.
Use the following chart of accounts: Cash; Accounts Payable-Name of Customer/Company; Notes Payable - Name of customer/Company; Office Equipment; Medical Equipment; Unused Medical supplies; Medical supplies expense; Office Furnitures; Bombeo, Capital; Bombeo, Withdrawals; Service Income; Salaries Expense; Rent Expense; Utility Expense; Miscellaneous Expense; Accounts Receivable-Name of Customer/Company.