Question

Requiremant 1. Jaurnaliza each transaction. Explanations are nat requirad(Racord dchits first, then cradits Exclude cxplanations from joumal entries Chack your spalling carafuly and da nat abbraviata When applicahle, use only tha account names pravided in the prohlam statement) July 1: Yarwood contributed $64,000 cash to the business in exchange for common stack Deblt More Into Jul. 1 Yarwood contributed $64,000 cash to the business in exchange for common 5 Paid monthly rent on medical equipment, S500 9 Paid $22,000 cash to purchase land to be used in operations 10 Purchased office supplies on account, $1,700 19 Borrowed $26,000 from the bank for business use. 22 Paid 31,100 on account 28 The business reccived a bil for advertising in the daily newspaper to ba paid in The business uses the following accounts Cash, Accounts Receivable, Office Suppies, Land, Accounts Payable Advertising Payable Uneamed Revenue Notes Payable; Common Stock, Dividends: Service Revenue Salarles xpense Rent Expense: Utiities Expanse; and Advartising Expense August 3290 31 Revanuss aarnad during ths month includad $6,600 cash and $5,600 on account 31 Pald employees' salaries $2,800, office rent $1,100, and utlities $250. Record s a compound antry The business receved $1,190 for medical screening services to be 31 performed Print Done 31 Paid cash dividends of $6.500 Print Done

Answer 1

Journal entries

Date	account and explanation	debit	credit
July 1	Cash	64000
	Common Stock		64000
	(To record common stock)
July 5	Rent expense	500
	cash		500
	(To record rent paid)
July 9	Land	22000
	Cash		22000
	(To record land purchased)
July 10	Office supplies	1700
	Account payable		1700
	(To record office supplies purchased)
July 19	Cash	26000
	Loan payable		26000
	(To record borrow)
July 22	Account payable	1100
	Cash		1100
	(To record amount paid)
July 28	Advertising expense	290
	Advertising payable		290
	(To record advertising expense)
July 31	Cash	6600
	Account receivable	5600
	Service revenue		12200
	(To record service revenue)
July 31	Salaries expense	2000
	Rent expense	1100
	Utilities expense	250
	Cash		3350
	(To record expenses)
July 31	Cash	1190
	Unearned service revenue		1190
	(To record revenue)
July 31	Cash dividend	6500
	Cash		6500
	(To record dividend paid)