prepare T-Account

Jul. 1 Jul. 5 Jul. 9 Jul. 10 Jul. 19 Jul. 22 Jul. 28 Jul. 31 Jul. 31 Jul. 31 Jul. 31 Wilmot contributed $60,000 cash to the business in exchange for common stock. Paid monthly rent on medical equipment, S630. Paid $15,000 cash to purchase land to be used in operations. Purchased office supplies on account, $1,400. Borrowed $23,000 from the bank for business use. Paid $1,100 on account The business received a bill for advertising in the daily newspaper to be paid in August, $210. Revenues earned during the month included $6,300 cash and $6,200 on account. Paid employees' salaries $2,500, office rent $1,200, and utilities $550. Record as a compound entry The business received $1,420 for medical screening services to be performed next month. Paid cash dividends of $6,700