Dr. Rebecca Gray opened a medical practice specializing in physical therapy. During the first month of operation (August), the business, titled Dr. Rebecca Gray, Professional Corporation (P.C.), experienced the following events: i (Click the icon to view the events.) (Click the icon to view the journal entries.) Read the requirements. Requirement 1. Post the entries to 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 the month.) Calculate the balance for each account and enter it on the appropriate side of each T-account. Cash Aug 6 140000 Accounts Payable Service Revenue More info Aug 6 Gray invested $140,000 in the business, which in turn issued its common stock to her. Aug 9 The business paid cash for land costing $58,000. Gray plans to build an office building on the land. Accounts Receivable Note Payable Aug 12 Salary Expense Aug 15 The business purchased medical supplies for $2,000 on account. Dr. Rebecca Gray, P.C., officially opened for business. Aug 15-31 Aug 31 Medical Supplies Common Stock Rent Expense During the rest of the month, Gray treated patients and earned service revenue of $8,900, receiving cash for half the revenue earned. Aug 15-31 The business paid cash expenses: employee salaries, $2,500; office rent, $1,600; utilities, $1,800. The business sold medical supplies to another physician for cost of $600 and received cash. Aug 31 Aug 31 The business borrowed $37,000, signing a note payable to the bank. The business paid $700 on account. Land Requirements Utilities Expense 1. Post the entries to the ledger, using T-accounts. Key transactions by date. Determine the ending balance in each account. 2. 3. Prepare the trial balance of Dr. Rebecca Gray, P.C., at August 31, 2021. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on August 31. - X