Problem 1: P2-29A Background: Vince York practices medicine under the business title Vince York, M.D. During July, the medical practice completed the transactions listed below. 11:57 07/01/2018 York contributed $63,000 cash to the business in exchange for common stock. 07/05/2018 Paid monthly rent on medical equipment, $510. 07/09/2018 Paid $23,000 cash to purchase land to be used in operations. 07/10/2018 Purchased office supplies on account, $1,600. 07/19/2018 Borrowed $22,000 cash from the bank for business use. 07/22/2018 Paid $1,100 on account. 07/28/2018 The business received a bill for advertising in the daily newspaper to be paid in August, $240. 07/31/2018 Revenues earned during the month included $6,400 cash and $6,000 on account. 07/31/2018 Paid employees' salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry. 07/31/2018 The business received $1,120 for medical screening services to be performed next month. 07/31/2018 Paid cash dividends of $7,200. Save WorkResetResultsSubmit Work 11:58