Vince York practices medicine under the business title Vince York, M.D. During July, the medical practice completed the following transactions: i (Click the icon to view the transactions.) (Click the icon to view the accounts used by the business.) Read the requirements. Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) July 1: York contributed $63,000 cash to the business in exchange for common stock. Date Jul. 1 Accounts 4 Debit Credit

Vince York practices medicine under the business title Vince York, M D. During July, the medical practice completed the following transactions (Click the icon to view the transactions.) (Click the icon to view the accounts used by the business.) Read the requirements Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits Exclude explanations from joumal entries.) July 1 York contributed $63,000 cash to the business in exchange for common stock Jul. 1 York contributed $63,000 cash to the business in exchange for common stock. Jul. 5 Paid monthly rent on medical equipment, $510 Jul. 9 Paid $23,000 cash to purchase land to be used in operations. Jul. 10 Purchased office supplies on account, $1,600. Jul. 19 Borrowed $22,000 from the bank for business use. Jul. 22 Paid $1,100 on account. Jul. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $240. Jul. 31 Revenues earned during the month included $6,400 cash and $6,000 on account. Jul. 31 Paid employees' salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry Jul. 31 The business received $1,120 for medical screening services to be performed next month Jul. 31 Paid cash dividends of $7,200. Accounts 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