Sally Larson opened a medical practice titled Sally Larson M.D., Inc. During August, the first month of operations, the business experienced the following events: (Click the icon to view the events.) Read the requirement FIED + Calculate the updated balances for all the accounts after entering each transaction. (if a box is not used in the transaction, leave the box empty; do not enter a zero. If an event does not affect the accounts of the business, leave the entire transaction line blank. Carry down all balances, including zero balance accounts. Enter decreases with a minus sign or parentheses.) August 2: Larson bought $55,000 of common stock in the business by opening a bank account in the name of Sally Larson M.D., Inc. Assets Liabilities Stockholders' equity ' - X Requirement Cash + Mod sup + Land AP + CS Retained earnings Serv rev - Rent Util exp 2) 2 + + 1. Analyze the effects of these events on the accounting equation of the medical practice of Sally Larson M.D., Inc. Use headings for Cash, Medical supplies Ball + (Med sup). Land, Accounts payable (AP), Common stock (CS), Service revenue (Serv rev), Rent experise (Rent exp), and Utility expense (Util exp). + + Rent exp + + J: + + + More Info Print Done Aug 2 Larson bought $55,000 of common stock in the business by opening a bank account in the name of Sally Larson M.D., Inc. 6 The business paid $35,000 cash for land with the intention of building an office building on the land. 11 The business purchased medical supplies for $300 on account. 15 The business officially opened for business 17 The business treated patients and earned service revenue of $7,000, receiving cash. 19 The business paid office rent, $1,600. 22 The business sold supplies to another doctor for $250 cash, the cost of those supplies 25 The business received a $125 utility bill in the mail. The bill will be paid in 30 days. 30 The business paid $200 on account related to the August 11 purchase. Print Done Clear All Check