Viny Yarwood practises medicine under the business title Vincent Yarwood, GP. During July 2021, the medical practice completed the following transactions:

Jul 1

Yarwood contributed $78 000 cash as capital to the business.

5

Paid monthly rent on medical equipment, $650.

9

Paid $18 000 cash to purchase land to be used in operations.

10

Purchased office supplies on credit, $3 800.

31

Paid employees salaries $2 000, office rent $1 000, and electricity and gas $550. Record as a compound entry.

31

Yarwood withdrew cash of $8 400.