Dr. Char Morin opened medical practice specializing surgery. During the first month of operation (July), the business, titled Dr. Char Morin, Professional Corporation (P.C.), experienced the following events: E(Click the icon to view the journal entries.) GClick the icon t view the events.) Read the requirements Requirement 1. Post the entries the month.) the ledger, using T-accounts. Key transactions by date. Determine the ending balance in each account. (Record transactions from the 15-31 of the month as occurring on the last day of Calculate the balance for each account and enter it on the appropriate side each T-account. Accounts Payable Service Revenue Cash 155000 Jul 9 Jul 6 Jul 12 Jul 31(a) 62000 500 9100 4550 Jul 31(b) Jul 31(a) Jul 31(e) 5100 600 Jul 31(c) 500 Jul 31(e) 600 Jul 31(d) 33000 Bal 125350 Bal 2100 Ba 9100 Note Pavable Salary Expense Accounts Receivable Jul 31(a) 3300 Jul 31(a) 4550 Jul 31(d) 33000 Bal Bal 4550 Ba 33000 3300 Rent Expense Medical Supplies Common Stock Jul 6 1500 Jul 31(c) 155000 Jul 31(b) 1400 Jul 12 500 nthe input fields and then continue to the next question Choose from any list or enter any number Dr. Char Morin opened a medical practice specializing i (Click the icon to view the events.) surgery. During the first month of operation (July), the business, titled Dr. Char Morin, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the journal entries.) Read the requirements Medical Supplies Common Stock Rent Expense 1500 Jul 31(c) 500 Jul 12 Jul 6 Jul 31(b) 155000 1400 Bal 1000 155000 Ba 1400 Ba Utilities Expense Land Jul 9 Jul 31(b) 400 62000 62000 Bal Bal 400 Requirement 2. Prepare the trial balance of Dr. Char Morin, P.C., at July 31, 2018. Review the T-accounts prepared in a previous step. Dr. Char Morin, P.C. Trial Balance July 31, 2018 Balance Account Debit Credit Accounts payable 2100 Choose from any list or enter any number the input fields and then continue to the next question. Dr.Char Morin opened a medical practice specializing in surgery. During the first month of operation (July), the business, titled Dr. Char Morin, Professional Corporation (P.C.), experienced the following events (Click the icon E(Click the icon to view the journal entries.) view the events.) Read the requirements. Balance Account Debit Credit Accounts payable 2100 Accounts receivable 4550 Cash 125350 Common stock 155000 Land 62000 Medical supplies 1000 Note payable 33000 Rent expense 1400 Salary expense 3300 Service revenue 9100 400 Utilities expense 198000 199200 Total Requirement 3. From the trial balance, detemine total assets, total liabilities, and total stockholders' equity on July 31. Total assets, Total liabilities Requirement 3. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on July 31. Total assets. Total liabilities Total stockholders' equity Choose from any list or enter any number in the input fields and then continue to the next question. - X i More Info Morin invested $155,000 in the business, which in turn issued its Jul 6 common stock to her 9 The business paid cash for land costing $62,000. Morin plans to build an office building on the land. The business purchased medical supplies for $1,500 on account. 12 15 Dr.Char Morin, P.C., officially opened for business. 15-31 During the rest of the month, Morin treated patients and earned service revenue of $9,100, receiving cash for half the revenue earned The business paid cash expenses: employee salaries, $3,300; office rent, $1,400; utilities, $400. 15-31 31 The business sold medical supplies to another physician for cost of $500 and received cash 31 The business borrowed $33,000, signing a note payable to the bank. The business paid $600 on account. 31 Print Done Journal Entry Accounts and Explanations Date Debit Credit Jul 6 Cash 155,000 155,000 Common Stock Issued stock to owner. Jul 9 Land 62,000 Cash 62,000 Purchased land. 12 Medical Supplies Jul 1,500 Accounts Payable 1,500 Purchased supplies on account 15 No entry required Jul Jul 4,550 31 (a) Cash Accounts Receivable 4,550 Service Revenue 9,100 Performed service for cash and on account Jul 31 (b) Salary Expense 3,300 ence Traroasm 4,JJU Accounts Receivable 4,550 Service Revenue 9,100 Performed service for cash and on account Jul 31 (b) Salary Expense 3,300 Rent Expense 1,400 Utilities Expense 400 Cash 5,100 Paid expenses. Jul 31 (c) Cash 500 Medical Supplies 500 Sold supplies Jul 31 (d) Cash 33,000 Note Payable 33,000 Borrowed money. Jul 31 (e) Accounts Payable 600 600 Cash Paid on account. Print Done