* More Info (CI Vincent Yang practices medicine under the business title Vincent Yang, M. D. During July, the medical practice completed the following transactions: (Click the icon to view the transactions.) Read tt Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations July 1: Yang contributed $66,000 cash to the business in exchange for capital. Date Accounts Debit Credit Jul. 1 Jul. 1 Yang contributed $66,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $560. 9 Paid $16,000 cash to purchase land to be used in operations, 10 Purchased office supplies on account, 51,300. 19 Borrowed $30,000 from the bank for business use. 22 Paid $1,200 on account. 28 The business recelved a bill for advertising in the daily newspaper to be paid in August, $310. 31 Revenues earned during the month included $6,200 cash and $5,900 on account. 31 Paid employees' salaries S2,400, office rent $1,600, and utilities $200. Record as a compound entry. 31 The business received $1,050 for medical screening services to be performed next month. 31 Yang withdrew cash of $7,100. July 5: Paid monthly rent on medical equipment, $560. Date Accounts Debit Credit Jul. S Print Done More Info July 9: Paid $16,000 cash to purchase land to be used in operations. Date Accounts Debit Credit Jul. 9 The business uses the following accounts: Cash; Accounts Receivable; Office Supplies: Land: Accounts Payable: Advertising Payable; Uneamed Revenue; Notes Payable; Yang, Capital; Yang, Withdrawals: Service Revenue: Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Print Done July 10: Purchased office supplies on account. $1.300. Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Post the transactions to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal. (Identify the July 31 transactions as "a"- 'd" as they are labeled in the journal entry tables.) Post all of the joumal entries for July More Info Cash Accounts Payable Service Revenue Advertising Payable Salaries Expense Jul. 1 Yang contributed $66.000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, SS60. 9 Paid $16,000 cash to purchase land to be used in operations, 10 Purchased office supplies on account, $1,300. 19 Borrowed $30,000 from the bank for business use. 22 Paid $1,200 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $310. 31 Revenues eamed during the month included $6,200 cash and $5,900 on account 31 Paid employees' salaries $2,400, office rent $1,600, and utilities $200 Record as a compound entry, 31 The business recalved $1,050 for medical screening services to be performed next month. 31 Yang withdrew cash of $7,100. Accounts Recelvable Unearned Revenue Rent Expense Office Supplies Notes Payable Utilities Expense Print Done Land Yang, Capital Advertising Expense More Info Yang, Withdrawals Requirement 3. Prepare the trial balance of Vincent Yang, M.D., as of July 31, 2018 Vincent Yang, M.D. Trial Balance July 31, 2018 Balance Account Title Debit Credit Jul. 1 Yang contributed 566,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $560. 9 Pald S16,000 cash to purchase land to be used in operations 10 Purchased office supplies on account. $1,300 19 Borrowed $30,000 from the bank for business use. 22 Pald S1,200 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, S310 31 Revenues carned during the month included $6,200 cash and $5,900 on account 31 Paid employees' salaries $2,400, office rent $1,600, and utilities $200. Record as a compound entry 31 The business received $1,050 for medical screening services to be performed next month. 31 Yang withdrew cash of $7,100. Print Done