The trial balance of Sharon Silver, Registered Dietician, P.C., at June 30, 2012, follows. The trial balance of Sharon Silver, Registered Dietician, P.C., at June 30, 2012, follows.

During July, Silver or her business completed the following transactions:
Jul 4 Collected $6,000 cash from a client on account.
7 Performed a nutritional analysis for a hospital on account, $6,600.
12 Silver used personal funds to pay for the renovation of her private residence, $55,000.
16 Purchased supplies on account, $1,000.
19 Paid cash dividends of $2,300.
20 Paid business debt on account, $2,500.
24 Received $2,200 cash for consulting with Natural Foods.
25 Paid rent, $500.
31 Paid employee salary, $1,00.
Requirements
1. Record the July transactions in the business€™s journal. Include an explanation for each entry.
2. Post the transactions to four-column accounts in the ledger, using dates, account numbers, journal references, and posting references.
3. Prepare the trial balance of Sharon Silver, Registered Dietician, P.C., at July 31,2012.

Transcribed Image Text:

SHARON SILVER, REGISTERED DIETICIAN, P.C. Trial Balance Junc 30, 2012 Debit Credit Account No. Account $ 7,000 Cash 11 Accounts receivable 12 8,500 Supplies Equipment Accounts payable Common stock Dividends 13 800 14 13,000 $ 4,800 21 24,500 31 32 41 Service revenue Salary expense 51 Rent expense 52 29,300 Total S 29,300 $