FiveTransactions Oct. 1 Dr. Rex Arnold opened his practice by investing $30,000 cash in his business. 2 Purchased $17,000 of office equipment on account from Medical Products, Inc. 18 Paid $7,000 on account to Medical Products, Inc. 20 Received $3,500 of fees earned in October. 30 Paid monthly salaries of $1,500. My answer was $56,500=$13,500+$14,500 but not sure if it’s correct. Thank you(I would appreciate it if you can show me the work in the same format as the file uploaded)
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