Question

stati Que 0 More Info ons: medicine view the ournal entrie nalize ed ed $63,0 Jul. 1 York contributed $63,000 cash to the business in exchange for common stock. 5 Paid monthly rent on medical equipment, $510. 9 Paid $23,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,600. 19 Borrowed $22,000 from the bank for business use. 22 Paid $1,100 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $240. 31 Revenues earned during the month included $6,400 cash and $6,000 on account. 31 Paid employees' salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry 31 The business received $1,120 for medical screening services to be performed next month. 31 Paid cash dividends of $7,200. rente Print Done Check Ans

Answer 1

Date	Accounts and Explanation	Debit	Credit
Jul-01	Cash	63,000
	Common stock		63,000
5	Rent Expense	510
	Cash		510
9	Land	23,000
	Cash		23,000
10	Office Supplies	1,600
	Accounts Payable		1,600
19	Cash	22,000
	Notes Payable		22,000
22	Accounts Payable	1,100
	Cash		1,100
28	Advertising Expense	240
	Advertising Payable		240
31	Cash	6,400
	Accounts Receivable	6,000
	Service Revenue		12,400
31	Salaries Expense	2,200
	Rent Expense	1,900
	Utilities Expense	560
	Cash		4,660
31	Cash	1,120
	Unearned Revenue		1,120
31	Dividends	7,200
	Cash		7,200