Gladys Yuan is a research analyst who operates under the business title Yuan Research. During April 2020, the company engaged in the following transactions:

Yuan Research uses the following accounts: Cash; Accounts Receivable; Supplies; Land; Accounts Payable; Note Payable; G. Yuan, Capital; G. Yuan, Withdrawals; Service Revenue; Office Rent Expense; Salaries Expense; Utilities Expense.
Required 1. Prepare an analysis of each business transaction of Yuan Research, as shown for the April 1 transaction:

2. Record each transaction in the journal with an explanation, using the dates and account titles given.

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Apr. 1 Yuan deposited $40,000 cash in the business bank account. The business 5 10 19 21 22 30 220 30 30 gave Yuan owner's equity in the business. Paid April's rent on a shared office space with cash, $400. Purchased supplies on account, $600. Paid $100 on account for supplies purchased on April 10. Paid $25,000 cash to purchase land for a future office location. Borrowed $15,000 from the bank for business use. Yuan signed a note payable to the bank in the name of the business. Paid cash for employce salaries of $3,500 and utilities of $350. Revenues earned during the month included $1,300 cash and $2,400 on account. Yuan withdrew $1,200 cash from the business for personal use.