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Samantha Stanley opened a medical practice. During July, the first month of operation, the business, titled Samantha Stanley, MD , experienced the following events: (
Samantha Stanley opened a medical practice. During July, the first month of operation, the business, titled Samantha Stanley, MD experienced the following events:
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Analyze the effects of these events on the accounting equation of the medical practice of Samantha Stanley, 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 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 for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: AP Accounts Payable; Com. Common; Contr. Contributed; Div. Dividends; Exp. Expense; Liab. Liabilities; Med. Medical; Rev. Revenue; Sal. Salaries; Sup. Supplies.
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