Vito Yarwood practices medicine under the business title Vito Yarwood, M$.$ D$.$ During July, the medical practice completed the following transactions:

$($Click the icon to view the transactions$)$

$($Click the icon to view the company's chart of accounts.$)$

Read the requirements.

Requirement $1.$ Journalize each transaction. Explanations are not required $($Record debits first, then credits. Exclude explanations from joumal entries$)$

July $1$: Yarwood contributed $$71,000$ cash to the business in exchange for capital

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$Jul$.1],[,,,],[,,,],[-,,,]]$

Requirements

Journalize each transaction. Explanations are not required.

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.

Prepare the trial balance of Vito Yanwood, M D$,$ as of July $31,2024$

More info

Jul. $1$ Yanwood contributed $$71,000$ cash to the business in exchange for capital

Jul. $5$ Paid monthly rent on medical equipment, $$630.$

Jul. $9$ Paid $$17,000$ cash to purchase land to be used in operations.

Jul. $10$ Purchased office supplies on account, $$1,400$

Jul. $19$ Borrowed $$28,000$ from the bank for business use

Jul. $22$ Paid $$1,300$ on account.

Jul. $28$ The business received a bill for advertising in the daily newspaper to be paid in August, $$310$

Jul. $31$ Revenues eamed during the month included $$7,100$ cash and $$6,400$ on accou

Jul. $31$ Paid employees' salaries $$2,400,$ office rent $$1,200,$ and utilities $$200.$ Record a compound entry.

Jul. $31$ The business received $$1,390$ for medical screening services to be performed n month.

Jul. $31$ Yarwood withdrew cash of $$6,500.$