- Problems Group A P2-29A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance Vince York practices medicine under the business title Vince York, M.D. During July, the medical practice completed the following transactions: Jul. 1 5 9 10 19 28 York contributed $63,000 cash to the business in exchange for common stock. Paid monthly rent on medical equipment, $510. Paid $23,000 cash to purchase land to be used in operations. Purchased office supplies on account, $1,600. Borrowed $22,000 from the bank for business use. Paid $1,100 on account. The business received a bill for advertising in the daily newspaper to be paid in August, $240. Revenues earned during the month included $6,400 cash and $6,000 on account. Paid employees' salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry. The business received $1,120 for medical screening services to be performed next month. Paid cash dividends of $7,200. 31 31 31