Reference Dr. Char Morin opened a medical practice specializing in surgery. During the first month of operation (July), the business, titled Dr. Char Morin, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the events.) (Click the icon to view the journal entries.) Read the requirements Debit Credit Requirement 1. Post the entries to the ledger, using T-accounts. Key transactions by date. Determine the ending balance in each account. (Record transactions from the 15-31 of the month as occurring on the last day of the Calculate the balance for each account and enter it on the appropriate side of each T-account. Jul 155,000 155,000 Cash Accounts Payable Service Revenue 62,000 i More Info 62,000 Jul 1,500 1,500 Journal Entry Date Accounts and Explanations 6 Cash Common Stock Issued stock to owner 9 Land Cash Purchased land. 12 Medical Supplies Accounts Payable Purchased supplies on account. 15 No entry required 31 (a) Cash waar Accounts Accounts Receivable Service Reve Service Revenue Performed service for cash and on account. 31 (b) Salary Expense Rent Expense Utilities Expense Cash Accounts Receivable Note Payable Salary Expense Jul Jul 6 Morin invested $155.000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $62,000. Morin plans to build an office building on the land. 12 The business purchased medical supplies for $1,500 on account. 15 Dr. Char Morin, P.C., officially opened for business. 15-31 During the rest of the month, Morin treated patients and earned service revenue of $9,100, receiving cash for half the revenue eamed. 15-31 The business paid cash expenses employee salaries, $3,300; office rent, $1,400; utilities, $400. 31 The business sold medical supplies to another physician for cost of $500 and received cash. 31 The business borrowed $33,000, signing a note payable to the bank. 31 The business paid $600 on account. 4,550 4,550 9,100 Medical Supplies Common Stock Rent Expense Jul 3,300 1,400 400 5.100 Print Done Land Utilities Expense Jul 500 500 Paid expenses. 31 (c) Cash Medical Supplies Sold supplies. 31 (d) Cash Note Payable Borrowed money 31 (e) Accounts Payable Jul 33,000 33,000 Jul 600 Cash 600 Paid on account Print Done