Dr. Rebecca GrayDr. Rebecca Gray opened a medical practice specializing in physical therapy. During the first month of operation (OctoberOctober ), the business, titled Dr. Rebecca GrayDr. Rebecca Gray , Professional Corporation (P.C.), experienced the following events:

Oct 6- Gray invested $ 137,000 in the business, which in turn issued its common stock to her.

Oct 9- The business paid cask for land costing 61,000. Gray plans to build an office building on the land.

Oct 12- The business purchased medical supplies for $2400 on account

Oct 15- Dr. Rebecca Gray, P.C., officially opened for business.

Oct 15-31 During the rest of the month, Gray treated patients and earned service revenue of 8600, receiving half the revenue earned.

Oct 15-31- The business paid cash expenses: employee salary, 3300, office rent 1100 and utilities 100

Oct 31- The business sold supplies to another physician for cost of 300 and received cash

Oct 31- The business borrowed 35,000, signing a note payable to the bank

Oct 31- The business paid 1200 on account.

Record the transactions in the journal of Dr. Rebecca Gray, P.C. List the transactions by date and give an explanation for each transaction.

Oct 6: Gray invested $137,000 in the business, which in turn issued its common stock to her. Journal Entry Credit Date Accounts and Explanations Debit Oct