Learning Objective 4 E-F:1-29 Using the accounting equation to analyze business transactions Ashley Stamper opened a medical practice. During July, the first month of operation, the business, titled Ashley Stamper, MD experienced the following events: Jul. 6 Stamper contributed $68,000 in the business by opening a bank account in the name of A. Stamper, MD. The business gave capital to Stamper. 9 Paid $56,000 cash for land. 12 15 20 Purchased medical supplies for $1,500 on account. Officially opened for business. Paid cash expenses: employees' salaries, $1,300; office rent, $1,500; utilities, $100. Earned service revenue for the month, $13,000, receiving cash. 31 31 Paid $1,050 on account.