Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions: AClick the icon to view the transactions.) The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; York, Capital; York, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Read the requirements. ..... Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) March 1: York contributed $64,000 cash to the business in exchange for capital. Date Accounts Debit Credit Mar. 1
Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions: AClick the icon to view the transactions.) The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes Payable; York, Capital; York, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense. Read the requirements. ..... Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) March 1: York contributed $64,000 cash to the business in exchange for capital. Date Accounts Debit Credit Mar. 1
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:Vito York practices medicine under the business title Vito York, M. D. During March, the medical practice completed the following transactions:
A(Click the icon to view the transactions.)
The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accounts Payable; Advertising Payable; Unearned Revenue; Notes
Payable; York, Capital; York, Withdrawals; Service Revenue; Salaries Expense; Rent Expense; Utilities Expense; and Advertising Expense.
Read the requirements.
Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.)
March 1: York contributed $64,000 cash to the business in exchange for capital.
Date
Accounts
Debit
Credit
Mar. 1

Transcribed Image Text:More info
Mar. 1 York contributed $64,000 cash to the business in exchange for capital.
5 Paid monthly rent on medical equipment, $630.
9 Paid $13,000 cash to purchase land to be used in operations.
10 Purchased office supplies on account, $1,800.
19 Borrowed $24,000 from the bank for business use.
22 Paid $1,200 on account.
28 The business received a bill for advertising in the daily newspaper to be
paid in April, $270.
31 Revenues earned during the month included $6,600 cash and $5,800 on
account.
31 Paid employees' salaries $2,700, office rent $1,500, and utilities $400.
Record as a compound entry.
31 The business received $1,450 for medical screening services to be
performed next month.
31 York withdrew cash of $6,600.
Print
Done
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