Create a Journal Entry and a T-Account for Each of the Following

question 1

Essay

Create a journal entry and a T-Account for each of the following transactions:
a) $15,000 worth of equipment is purchased on credit.
b) $40,000 of patient bills from last year are collected in cash.
c) $10,000 is received from a managed care company for services to be rendered next year for members
d) $20,000 worth of supplies is purchased and paid for in cash.

---

Definitions:

Psychoanalytic

A psychological perspective focusing on unconscious processes and conflict within an individual.

Personality

An amalgamation of properties or characteristics that shape a person's singular nature.