The trial balance of Shermana Peters, Registered Dietician, P.C., at June 30, 2012, follows: During July, Peters or her business completed the following transactions:

During July, Peters or her business completed the following transactions:
Jul 4 Collected $7,000 cash from a client on account.
7 Performed a nutritional analysis for a hospital on account, $4,900.
12 Peters used personal funds to pay for the renovation of her private residence, $53,000.
16 Purchased supplies on account, $800.
19 Paid cash dividends of $2,200.
20 Paid business debt on account, $2,300.
24 Received $2,100 cash for consulting with Bountiful Foods.
25 Paid rent, $300.
31 Paid employee salary, $1,500.
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 Shermana Peters, Registered Dietician, P.C., at July 31,2012.

Transcribed Image Text:

SHERMANA PETERS, REGISTERED DIETICIAN, P.C. Trial Balance June 30, 2012 Debit $ 4,000 Credit Account No. Account Cash 11 12 Accounts receivable 7,600 Supplies 13 600 14 Equipment 16,000 $ 5,200 Accounts payable 21 Common stock 23,000 31 Dividends 32 Service revenue 41 Salary expense 51 Rent expense 52 Total $28,200 $28,200