- X Accounts The business uses the following accounts: Cash; Accounts Receivable; Office Supplies, Land; Accounts Payable; Advertising Payable: Uneamed Revenue; Notes Payable: Common Stock; Dividends: Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Print Done i Requirements - X 1. Joumalize each transaction. Explanations are not required. 2. 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. 3. Prepare the trial balance of Victor Young, M.D. as of July 31, 2018. Print Done i More Info -X Jul. 1 Young contributed $62,000 cash to the business in exchange for common stock. 5 Paid monthly rent on medical equipment, $530. 9 Paid $14,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,000. 19 Borrowed $23,000 from the bank for business use. 22 Paid $600 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August $300 31 Revenues earned during the month included $6,800 cash and S6,200 on account 31 Paid employees' salaries $2,500, office rent $1,500, and utilities $550. Record as a compound entry 31 The business received $1,280 for medical screening services to be performed next month 31 Paid cash dividends of $7,400. Print Done Requirement 3. Prepare the trial balance of Victor Young, M.D. as of July 31, 2018 Victor Young, M.D. Trial Balance July 31, 2018 Balance Account Title Debit Credit Total Choose from any list or enter any number in the input fields and then continue to the next