(Solution) - Refer to Exercise Jul 6 Cohen invested 44 000 in the -(2025 Original AI-Free Solution)

Paper Details

Refer to Exercise.
Jul 6 Cohen invested $44,000 in the business, which in turn issued its common stock to him.
9 The business paid cash for land costing $31,000. Cohen plans to build an office building on the land.
12 The business purchased medical supplies for $1,700 on account.
15 Kyle Cohen, P.C., officially opened for business.
15-31 During the rest of the month, Cohen treated patients and earned service revenue of $7,600, receiving cash for half the revenue earned.
15-31 The business paid cash expenses: employee salaries, $800; office rent, $800; utilities, $300.
31 The business sold supplies to another physician for cost of $400.
31 The business borrowed $16,000, signing a note payable to the bank.
31 The business paid $700 on account.

Requirement
1. Record the transactions in the journal of Kyle Cohen, P.C. List the transactions by date and give an explanation for each transaction.