Dr. Sarah Beard opened a medical practice specializing in physical therapy. During the first month of operation (January), the business, titled Dr. Sarah Beard, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the events.) Requirement 1. Record the transactions in the journal of Dr. Sarah Beard, P.C. List the transactions by date and give an explanation for each transaction. (Record debits first, then credits. Select explanations on the last line of the journal entry table. If an entry is not required, select "No entry required" on the first line of the table and leave all other fields blank.) Jan 6: Beard invested $138,000 in the business, which in turn issued its common stock to her. Journal Entry Accounts and Explanations Date Debit Credit Sa es (C ui Re the lea 6: More info Jan 6 Jan 9 Jan 12 Jan 15 Jan 15-31 Beard invested $138,000 in the business, which in turn issued its common stock to her. Jan 31 The business paid cash for land costing $60,000. Beard plans to build an office building on the land. The business purchased medical supplies for $1,600 on account. Dr. Sarah Beard, P.C., officially opened for business. During the rest of the month, Beard treated patients and earned service revenue of $8,900, receiving cash for half the revenue earned. Jan 15-31 The business paid cash expenses: employee salaries, $3,200; office rent, $700; utilities, $1,800. The business sold medical supplies to another physician for cost of $700 and received cash. poin 30 anua anatic o ent More info Jan 9 Jan 12 Jan 15 Jan 15-31 Jan 31 The business paid cash for land costing $60,000. Beard plans to build an office building on the land. Jan 15-31 The business paid cash expenses: employee salaries, $3,200; office rent, $700; utilities, $1,800. Jan 31 Jan 31 The business purchased medical supplies for $1,600 on account. Dr. Sarah Beard, P.C., officially opened for business. Duringe rest of the month, Beard treated patients and earned service revenue of $8,900, receiving cash for half the revenue earned. The business sold medical supplies to another physician for cost of $700 and received cash. The business borrowed $37,000, signing a note payable to the bank. The business paid $1,400 on account. - X Jan 9: The business paid cash for land costing $60,000. Beard plans to build a office building on the land. Journal Entry Accounts and Explanations Jan Date ***** Debit Credit Jan 12: The business purchased medical supplies for $1,600 on account. Journal Entry Accounts and Explanations Jan Date Detit Credit Jan 15: Dr. Sarah Beard, P.C., officially opened for business. Journal Entry Accounts and Explanations Jan Date Debit Credit Jan 15-31: During the rest of the month, Beard treated patients and earned service revenue of $8,900, receiving cash for half the revenue earned. (Record this transaction as occurring on the last day of the month.) Jan Date Journal Entry Accounts and Explanations Debit Credit Jan 15-31: The business paid cash expenses: employee salaries, $3,200; office rent, $700; utilities, $1,800. (Record this transaction as occurring on the last day of the month. Prepare a single compound journal entry.) Date: Journal Entry Accounts and Explanations Debit Credit Jan 31: The business sold supplies to another physician for cost of $700 and received cash. Journal Entry Accounts and Explanations Jan Date Dit Credit Jan 31: The business borrowed $37,000, signing a note payable to the bank. Journal Entry Accounts and Explanations Jan Date Dabit *** Credit Jan 31: The business paid $1,400 on account. Jan Date Journal Entry Accounts and Explanations Debit Credit