Homework Answers
| Solution: | ||||
| Date | Accounts | Debit | Credit | |
| Jul. 1 | Cash | $67,000 | ||
| Yengling, Capital | $67,000 | |||
| Jul. 5 | Rent Expense | $500 | ||
| Cash | $500 | |||
| Jul. 9 | Land | $15,000 | ||
| Cash | $15,000 | |||
| Jul. 10 | Office supplies | $1,400 | ||
| Accounts payable | $1,400 | |||
| Jul. 19 | Cash | $23,000 | ||
| Notes Payable | $23,000 | |||
| Jul. 22 | Accounts payable | $1,200 | ||
| Cash | $1,200 | |||
| Jul. 28 | Advertising Expense | $270 | ||
| Advertising Payable | $270 | |||
| Jul. 31 | Cash | $6,600 | ||
| Accounts Receivable | $6,400 | |||
| Service Revenue | $13,000 | |||
| Jul. 31 | Salaries Expense | $2,800 | ||
| Rent Expense | $900 | |||
| Utilities Expense | $400 | |||
| cash | $4,100 | |||
| Jul. 31 | Cash | $1,130 | ||
| Unearned Revenue | $1,130 | |||
| Jul. 31 | Yengling, Withdrawal | $7,100 | ||
| Cash | $7,100 |
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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...
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Victor Young practices medicine under the business title Victor Young, M.D. During July, the medical practice completed the following transactions: i (Click the icon to view the transactions.) i (Click the icon to view the accounts used by the business.) Read the requirements. Requirement 1. Joumalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) July 1: Young contributed $67,000 cash to the business in exchange for common stock Date...
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