Jul. 1 Yung contributed $69,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $630. 9 Paid $14,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,100. 19 Borrowed $27,000 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, $290. 31 Revenues earned during the month included $6,700 cash and $6,500 on account. 31 Paid employees' salaries $2,100, office rent $1,600, and utilities $500. Record as a compound entry. 31 The business received $1,390 for medical screening services to be performed next month. 31 Yung withdrew cash of $7,000. niin Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) July 1: Yung contributed $69,000 cash to the business in exchange for capital. Date Accounts Debit Credit Jul. 1