Question
Vincent Yang practices medicine under the business title Vincent Yang, M.D. During July, the medical practice completed the following transactions: LOADING... (Click the icon to
Vincent
Yang
practices medicine under the business title
Vincent Yang, M.D.
During
July,
the medical practice completed the following transactions:
LOADING...
(Click the icon to view the transactions.)
LOADING...
(Click the icon to view the accounts used by the business.) Read the requirements
LOADING...
.
Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.)
July
1:
Yang
contributed
$69,000
cash to the business in exchange for common stock.
| Date | Accounts | Debit | Credit | ||
| Jul. 1 |
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July
5: Paid monthly rent on medical equipment,
$590.
| Date | Accounts | Debit | Credit | ||
| Jul. 5 |
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July
9: Paid
$16,000
cash to purchase land to be used in operations.
| Date | Accounts | Debit | Credit | ||
| Jul. 9 |
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July
10: Purchased office supplies on account,
$1,300.
| Date | Accounts | Debit | Credit | ||
| Jul. 10 |
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