Complete the problems in the attached file as Midterm Exam – Part II. Make sure to save your solutions as an.xlsx file type with your name in the file name (e.g. JWales_MidtermExam Part 2), and submit it to this assignment by the end of the week. [Links to web-based documents or formats that will not open in Excel will not be accepted.

Davis & Bell began a health clinic as a corporation in 2014. Several transactions which occurred early in
2014 are descibed below. Record each transaction in proper journal entry form, excluding written
explanations.

Required: 5 points each
Record each transaction in proper journal entry form, excluding written explanations.

A 1/15/2014 Stockholders invested $90,000 in the business and received shares of common
stock as evidence of ownership.

B 2/1/2014 Rent of $2,000 was paid for the month of February

C 2/10/2014 Equipment with a cost of $10,000 was purchased on credit; payment is due
in 30 days.

D 2/14/2014 Fees totaling $5,500 were billed to patients; $3,000 was collected immediately
and the balance of $2,500 is due within 30 days.

E 2/19/2014 Full payment was made for the equipment purchased on February 10th.