Samantha Stamford opened a medical practice. During July, the first month of operation, the…

Samantha Stamford opened a medical practice. During July, the first month of operation, the business, titled Samantha Stamford, M.D., experienced the following events: July 6 Stamford contributed $65,000 in the business by opening a bank account in the name of S. Stamford, M.D. The corporation issued common stock to Stamford. 9 Paid $52,000 cash for land. 12 Purchased medical supplies for $ 1,600 on account. 15 Officially opened for business. 20 Paid cash expenses: employees’ salaries, $1,500; office rent, $1,300; utilities, $350. 31 Earned service revenue for the month, $8,000, receiving cash. 31 Paid $800 on account. Analyze the effects of these events on the accounting equation of the medical practice of Samantha Stamford, M.D., using the following format:
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Samantha Stamford opened a medical practice During July the first

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