Jul. 1 Jul. 5 Jul. 9 Jul. 10 Yang contributed $66,000 cash to the business in exchange for common stock Paid monthly rent on medical equipment, $590, Paid $20.000 cash to purchase land to be used in operations. Purchased office supplies on account, $1.700 Borrowed $29,000 from the bank for business use Jul. 19 Jul. 22 Paid $1,200 on account Jul. 28) Jul. 31 Jul. 31 Jul. 31 Jul. 31 The business received a bill for advertising in the daily newspaper to be paid in August $290 Revenues earned during the month included $6.200 cash and $6,400 on account Paid employees' salaries $2.600, office rent $1,800, and utilities $250 Record as a compound entry The business received $1,000 for medical screening services to be performed next month Paid cash dividends of $6,900 Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal e July 1: Yang contributed $66,000 cash to the business in exchange for common stock Date Jul 1 Accounts Debit Credit July 5: Paid monthly rent on medical equipment. $590 Date Accounts Debit Credit Jul 5 July 9: Paid $20,000 cash to purchase land to be used in operations. Date Jul 9 Accounts July 10 Purchased office supplies on account, $1,700 Date Jul 10 Accounts Debit Credit Credit July 19 Borrowed $29,000 from the bank for business use Date Jul 19 July 22: Paid $1,200 on account Date Jul 22 Accounts Debit Credit Accounts Debit Credit July 28. The business received a bill for advertising in the daily newspaper to be paid in August $290 Date Jul 28 Accounts Debit Credit July 31 (a): Revenues earned during the month included 56 200 cash and $6,400 on account Record as a compound entry Date Jul 31 (a) Accounts Debit Credit July 31 (b): Paid employees' salaries $2,600, office rent $1,800, and utilities $250 Record these entries as a compound entry Date Jul 31 (b) Accounts Debit Credit July 31 (c) The business received $1,000 for medical screening services to be performed next month Date Jul 31 (c) Accounts Debit Credit July 31 (d): Paid cash dividends of $6,900 Date Jul 31 (d) Accounts Debit Credit Cash Accounts Payable Service Revenue Advertising Payable Salaries Expense Accounts Receivable Unearned Revenue Rent Expense Office Supplies Notes Payable Utilities Expense Land Common Stock Advertising Expense Dividends Account Title Victor Yang, M.D. Trial Balance July 31, 2024 Debit Balance Credit The business uses the following accounts: Cash; Accounts Receivable: Office Supplies; Land; Accounts Payable; Advertising Payable: Unearned Revenue; Notes Payable; Common Stock; Dividends; Service Revenue: Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense