Vincent Yasmin practices medicine under the business title, Vincent Yasmin, M.D. During July, the medical practice completed transactions as listed on page 2. For this assignment, you will apply your knowledge of business transactions and accounts. You will complete journalizing transactions and post the transactions to T-accounts. In addition, you will use the data provided to prepare a trial balance. This assignment will provide additional practice with basic accounting terms, concepts, and principles, as well as performing routine business transactions. Assignment Details: Perform the following tasks: Complete the reading assignment and the interactive lesson before attempting this assignment. Attend the instructor session to prepare for this assignment. Use the Week 2 Assignment Worksheet and the information below to complete the following: o Complete the journalizing of each transaction, including the post reference (Tab 1). o Complete the posting of journal entries to T-accounts (Tab 2). o Prepare the trial balance of Vincent Yasmin, M.D. as of July 31 (Tab 3). Submit the Week 2 Assignment via Blackboard by clicking on the Week 2 Assignment link. Include the proper file naming convention: ACC105_wk2_assn_jsmith_mmddyyyy. Vincent Yasmin practices medicine under the business title, Vincent Yasmin, M.D. During July, the medical practice completed the following transactions: Date Transaction Description July 1 Yasmin contributed $69,000 cash to the business in exchange for capital. July 5 Paid monthly rent on medical equipment, $540 July 9 Paid $23,000 cash to purchase land to be used in operations. July 10 Purchased office supplies on account, $1,100 July 19 Borrowed $31,000 from the bank for business use. July 22 Paid $800 on account. July 28 The business received a bill for advertising in the daily newspaper, to be paid in August, $240. July 31 Revenues earned during the month included $6,100 cash and $6,300 on account. July 31 Paid employees salaried - $3,000; office rent - $1,300; and utilities - $600; Record as a compound entry. July 31 The business received $1,280 for medical screening services to be performed next month. July 31 Yasmin withdrew cash of $6,500.

Cash					Accounts Payable
	69,000	540	5-Jul		22-Jul	800		10-Jul
19-Jul	31,000	23,000	19-Jul				300	Bal.
31-Jul	6,100	800	22-Jul
31-Jul	1,280		31-Jul		Service Revenue
		6,500	31-Jul				12,400	31-Jul
Bal.	76,540						12,400	Bal.
Accounts Receivable					Advertising Payable
31-Jul	6,300
Bal.							240	Bal.
Salaries Expense					Rent Expense
31-Jul					5-Jul
Bal.	3,000				31-Jul	1,300
						1,300
Office Supplies					Unearned Revenue
31-Jul	1,100						1,280
Bal.	1,100						1,280	Bal.
Utilities Expense					Advertising Expense
31-Jul	600
Bal.	600				Bal.
Land					Notes Payable
19-Jul	23,000						31,000	19-Jul
Bal.							31,000	Bal.
Yasmin, Withdrawals					Yasmin, Capital
31-Jul	6,500							1-Jul
Bal.							69,000	Bal.