Daniel Bronstein practices medicine under the business title Daniel Bronstein, M.D. During July, the medical practice completed the following transactions:

The business uses the following accounts: Cash; Accounts Receivable; Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; Bronstein, Capital; Bronstein, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense.
Requirements 

1. Journalize 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 unadjusted trial balance of Daniel Bronstein, M.D., as of July 31, 2025.

Transcribed Image Text:

Jul. 1 Bronstein contributed $68,000 cash to the business in exchange for capital. Paid monthly rent on medical equipment, $560. Paid $16,000 cash to purchase land to be used in operations. Purchased supplies on account, $1,600. 5 9 10 19 22 Paid $1,300 on account. 28 31 31 31 Borrowed $23,000 from the bank for business use. The business received a bill for advertising online to be paid in August, $240. Revenues earned during the month included $6,500 cash and $5,800 on account. Paid employees' salaries $2,500, office rent $1,000, and utilities $400. Record as a compound entry. The business received $1,140 for medical screening services to be performed next month. 31 Bronstein withdrew cash of $7,000.