Caren Stanley opened a medical practice. During July, the first month of operation, the business, titled Caren Stanley, MD$,$ experienced the following events:

i$.($Click the icon to view the transactions.$)$

Analyze the effects of these events on the accounting equation of the medical practice of Caren Stanley, MD$.$

Analyze the events chronologically, one transaction at a time, beginning with the transaction on the $6$th$.$ For each transaction that follows the transaction on the $6$ th$,$ calculate the balance in each

account after analyzing its effect on the accounting equation. $($Complete only the necessary answer boxes for your transaction lines. $[$Do not enter any zeros for your transaction lines.$]$ For

transactions with the same date, be sure to enter each transaction on a separate line in the order presented in the problem. Carry down all balances to the "Bal." line, including zero

balance accounts, entering a $"0"$ for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used:A$/$P $=$ Accounts Payable; Com. $=$ Common; Contr. $=$

Contributed; Div. $=$ Dividends; Exp. $=$ Expense; Liab. $=$ Liabilities; Med $=$ Medical; Rev. $=$ Revenue; Sal. $=$ Salaries; Sup. $=$ Supplies.$)$

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Jul. $6$ Received a contribution of $$56,000$ from Stanley and opened a bank account in the

name of C$.$ Stanley, MD$.$ The corporation issued common stock to Stanley.

Jul. $9$ Paid $$48,000$ cash for land.

Jul. $12$ Purchased medical supplies for $$2,400$ on account.

Jul. $15$ Officially opened for business.

Jul. $20$ Paid cash expenses: employees' salaries, $$1,900$; office rent, $$600$; utilities, $$150.$

Jul. $31$ Earned service revenue for the month, $$16,000,$ receiving cash.

Jul. $31$ Paid $$1,650$ on account.