Following is the chart of accounts of the C Lucern

Following is the chart of accounts of the C Lucern

Following is the chart of accounts of the C. Lucern Clinic:

Assets
111 Cash
113 Accounts Receivable
115 Supplies Expenses
117 Prepaid Insurance
124 Equipment
Revenue
411 Professional Fees
Expenses
511 Salary Expense
512 Rent Expense
513 Laboratory Expense
514 Utilities Expense
Liabilities
221 Accounts Payable
Owner's Equity
311 C. Lucern, Capital
312 C. Lucern, Drawing
Dr. Lucern completed the following transactions during July:
July 1 Bought laboratory equipment on account from Laser Surgical Supply Company, $3,660,
paying $1,660 in cash and placing the remainder on account, Ck. No. 1730.
3 Paid the office rent for the current month, $1,300, Ck. No. 1731.
5 Received cash on account from patients, $360.
6 Bought supplies on account from McRae Supply Company, $315, Inv. No. 3455.
7 Received and paid the bill for laboratory services, $1,380, Ck. No. 1732.
8 Bought insurance for one year, $2,650, Ck. No. 1733.
12 Performed medical services for patients on account, $5,886.
15 Performed medical services for patients for cash, $4,793.
16 The equipment purchased on July 1 was found to be broken. Dr. Lucern returned the
damaged part and received a reduction in his bill, $518, Inv. No. 3162, Credit Memo No. 141.
18 Paid the salary of the part-time nurse, $2,100, Ck. No. 1734.
24 Received and paid the telephone bill for the month, $624, Ck. No. 1735.
28 Performed medical services for patients on account, $7,381.
29 Dr. Lucern withdrew cash for his personal use, $2,000, Ck. No. 1736.
Required
1. Journalize the transactions for July in the general journal. If you are using working papers,
number the pages beginning with page 21.
2. If you are using working papers, write the name of the owner next to the Capital and Drawing
accounts in the general ledger. The balances of the accounts as of June 30 have been recorded
in the general ledger in the Working Papers and in Cengage- Now. Notice the word Balance in

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