Vick Yardley

practices medicine under the business title

Vick Yardley comma M. D.Vick Yardley, M. D.

During July the medical practice completed the following transactions:

The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense.

Jul.Jul. 1		YardleyYardley contributed $61,000 cash to the business in exchange for common stock.
5		Paid monthly rent on medical equipment, $530.
9		Paid $19,000 cash to purchase land to be used in operations.
10		Purchased office supplies on account, $1,900.
19		Borrowed $29,000 from the bank for business use.
22		Paid 1,600 on account.
28		The business received a bill for advertising in the daily newspaper to be paid in AugustAugust , $310.
3131		Revenues earned during the month included $6,300 cash and $5,400 on account.
3131		Paid employees' salaries $2,000 , office rent $700 , and utilities $500. Record as a compound entry.
3131		The business received 1,130 for medical screening services to be performed next month.
3131		Paid cash dividends of $ 6,700.

1.	Journalize each transaction. Explanations are not required.
2.	Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal.
3.	Prepare the trial balance of Vick Yardley comma M. D.Vick Yardley, M. D. as of July 31, 2018