Dr. Bernice MaglinDr. opened a medical practice specializing in physical therapy. During the first month of operation (December),the business, titled Dr. Bernice Maglin Professional Corporation (P.C.), experienced the following events:

Requirement

1.

Record the transactions in the journal of Dr. Bernice Maglin, P.C. List the transactions by date and give an explanation for each transaction. (Record debitsfirst, then credits. Select explanations on the last line of the journal entry table. If an entry is not required, select "No entry required" on the first line of the table.)

Dec 6 Maglin invested $142,000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $58,000. Maglin plans to build an office building on the land. 12 The business purchased medical supplies for $2,200 on account. 15 Dr. Bernice Maglin, P.C., officially opened for business. 15-31 During the rest of the month, Maglin treated patients and earned service revenue of $9,000, receiving cash for half the revenue earned 15-31 The business paid cash expenses: employee salaries, $2,500; office rent, $1,100; utilities, $1,400 31 The business sold supplies to another physician for cost of S800 31 The business borrowed $32,000, signing a note payable to the bank. 31 The business paid $1,400 on account