Ned Brown opened a medical practice in San Diego, California, and had the following transactions during the

Question:

Ned Brown opened a medical practice in San Diego, California, and had the following transactions during the month of January.

Jan. 1 The business received $ 29,000 cash and issued common stock to Brown.

2 Purchased medical supplies on account, $ 14,000.

4 Performed services for patients receiving $ 1,400.

12 Paid monthly office rent of $ 2,600.

15 Recorded $ 8,000 revenue for services rendered to patients on account.

Journalize the transactions of Ned Brown, M. D. Include an explanation with each entry.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...