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An owner Investing into a business

debit cash, Credit owners capital

Hiring an employee

NO ENTRY until end of the month

“paid rent for the month”

debit rent expense, credit cash

Purchased dental supplies ON ACCOUNT

debit supplies, credit accounts payable

When you see you provided a service you can think

Service revenue

whenever you bill someone or sent an invoice that will affect the

Accounts receivable

Preformed dental services and billed insurance companies

debit accounts receivable, credit service revenue

Any time you receive money in advance for a service, it is considered

unearned revenue.

Received cash advance from Leah Smith for an implant

debit cash, credit unearned service revenue.

Received 2100 cash for services performed

debit cash, credit service revenue.

Whenver you are paying an employee you are dealing with a

salaries expense

paid an a employee for a month

debit salaries expense, credit cash

Assests, drawings, expenses, all increase with a

debit entry.

Liabilities, owners capital. revenue accounts increase with a

credit entry.

Paid dazzle 2400 for accounts payable due

debit account payable, credit cash

Balance sheet

A financial statement

preformed services and billed customers

debit accounts receivable, credit service revenue

Payable =

Liability

receivable =

Asset

retained earnings=

shareholders equity