Jul. 1 Yang contributed $70,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $590. 9 Paid $19,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,500. 19 Borrowed $21,000 from the bank for business use. 22 Paid $900 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $260. 31 Revenues earned during the month included $6,800 cash and $5,800 on account. Paid employees' salaries $2,100, office rent $1,000, and utilities $200. Record as a compound entry 31 31 The business received $1,280 for medical screening services to be performed next month. Yang withdrew cash of $7,300. 31 -X Requirements 1. Journalize each transaction. Explanations are not required. 2. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal. 3. Prepare the trial balance of Victor Yang, M.D., as of July 31, 2017 Print Done Requirement 1. Jounalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) July 1: Yang contributed $70,000 cash to the business in exchange for capital. Date Accounts Debit Credit Jul. 1 Choose from any list or enter any number in the input fields and then click Check Answer parts remaining Clear All