LO3-3 through LO3-5 BRIEF EXERCISE 3.2 Record the following sclected transactions in general journal form for Quantum Clinic, Inc. Include a brief explanation of the transaction as part of each...

Posting of transaction from General Journal to T-Accounts

Prepare trial Balance

Extracted text: LO3-3 through LO3-5 BRIEF EXERCISE 3.2 Record the following sclected transactions in general journal form for Quantum Clinic, Inc. Include a brief explanation of the transaction as part of each journal entry. The clinic issued 5,000 additional shares of capital stock to Doctor Soges at $60 per Recording Transactions in a Journal Oct. 1 share. The clinic purchased diagnostic equipment. The equipment cost $250,000, of which $100,000 was paid in cash; a note payable was issued for the balance. Oct. 4


Extracted text: Oct. 12 Issued a check for $6,000 in full payment of an acccunt payable to Zeller Laboratories. Purchased surgical supplies for $4,000. Payment is not due until November 28. Collected a $80,000 account receivable from Health One Insurance Company. Declared and paid a $500,000 cash dividend to stockholders. Oct. 19 Oct. 25 Oct. 30