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Ashley Stamper opened a medical practice. During July, the first month of operation, the business, titled Ashley Stamper, MD, experienced the following events: 1. (Click
Ashley Stamper opened a medical practice. During July, the first month of operation, the business, titled Ashley Stamper, MD, experienced the following events: 1. (Click the icon to view the transactions.) Analyze the effects of these events on the accounting equation of the medical practice of Ashley Stamper, MD. Contributed; Div. = Dividends; Exp. = Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies. More info 7/6 Jul. 6 Received a contribution of $68,000 from Stamper and opened a bank account in the name of A. Stamper, MD. The corporation issued common stock to Stamper. Jul. 9 Paid $56,000 cash for land. Jul. 12 Purchased medical supplies for $1,500 on account. Jul. 15 Officially opened for business. Jul. 20 Paid cash expenses: employees' salaries, $1,300; office rent, $1,500; utilities, $100. Jul. 31 Earned service revenue for the month, $13,000, receiving cash. Jul. 31 Paid $1,050 on account
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