7/6 16 Journee Ferreira opened a medical practice. During July, the first month of operation, the business, titled J. Ferreira, MD, experienced the following events: View the transactions. Analyze the effects of these events on the accounting equation of the medical practice of J. Ferreira, MD. Transactions Analyze the events chronologically, one transaction at a time, beginning with the transaction of account after analyzing its effect on the accounting equation. (Complete only the necessary in with the same date, be sure to enter each transaction on a separate line in the order presented 0 for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Ab Exp. Expense; Liab. Liabilities; Med. Medical; Rev. Revenue; Sal. Salaries; Sup. S = Assets Jul. 6 Jul. 9 Received a contribution of $70,000 from Ferreira and opened a bank account in the name of J. Ferreira, MD. The corporation issued common stock to Ferreira. Paid $52,000 cash for land. Purchased medical supplies for $2,100 on account. ==1 Liab. + Contr. Cash + Med. Land + = A/P Capital + + Com. Sup. Stock + + =1 + - E Jul. 12 Jul. 15 Officially opened for business. F Jul. 20 Jul. 31 Div. + Service Paid cash expenses: employees' salaries, $1,800; office rent, $1,100; utilities, $340. Earned service revenue for the month, $7,000, receiving cash. Jul. 31 Rev. Paid $1,600 on account. + Print Done