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Jul. 1 Yasmin contributed $70,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $580. 9 Paid $21,000 cash
Jul. 1 Yasmin contributed $70,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $580. 9 Paid $21,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,600. 19 Borrowed $32,000 from the bank for business use. 22 Paid $1,000 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $270. 31 Revenues earned during the month included $6,900 cash and $6,000 on account. 31 Paid employees' salaries $2,100, office rent $800, and utilities $250. Record as a compound entry. 31 The business received $1,190 for medical screening services to be performed next month. 31 Yasmin withdrew cash of $7,500. 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. entry tables.) Post all of the journal entries for July. Cash Service Revenue Accounts Payable Jul. 10 Jul. 1 70000 Jul. 5 Jul. 22 Jul. 19 32000 Jul. 9 Bal. 6900 Jul. 22 Jul. 31(a) Jul. 31(c) 1190 Advertising Payable Salaries Expense Jul. 31(b) Jul. 31(d) Accounts Receivable Unearned Revenue Rent Expense Office Supplies Notes Payable Utilities Expense Land Yasmin, Capital Advertising Expense Office Supplies Notes Payable Utilities Expense Land Yasmin, Capital Advertising Expense Yasmin, Withdrawals Requirement 3. Prepare the trial balance of Vito Yasmin, M.D., as of July 31, 2017. Vito Yasmin, M.D. Trial Balance July 31, 2017 Balance Account Title Debit Credit Cash Accounts Receivable Office Supplies Land Accounts Payable Advertising Payable Unearned Revenue
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