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Emily Summers opened a medical practice. During July, the first month of operation, the business, titled Emily Summers, MD experienced the following events:
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Analyze the effects of these events on the accounting equation of the medical practice of Emily Summers, MD
Analyze the events chronologically, one transaction at a time, beginning with the transaction on the th For each transaction that follows the transaction on the th calculat 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 zero 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 probtem. Carry down aft bafar the "Bal. "line, including zero balance accounts, entering a for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used. Accounts Payable; Com. Common; Contr Contributed, Div. Dividends; Exp. Expense; Liab. Liabilities; Med Medical; Rev. Revenue; Sal Salaries; Sup. Supplies.
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