Dr. Laura Smith opened a medical practice specializing in physical therapy. During the first month of operation (July, the business, titled Dr. Laura Smith, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the events.) Read the requirements Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Laura Smith, P.C. Begin with the first transaction on July 6. (Use parentheses or a minus sign when decreasing accounts. If a box is not used in the table leave the box empty, do not enter a zero. Enter the transactions in the same order as they appear in the original list.) Liabilities Stockholders' Equity Accts Rec Medical Supplies - Accts Pay Note - Payable Common Stock Retained Famings Type of Equity Transaction Cash + Land Ja 12 Choose from sy list or enter any number in the input selds and then continue to the next question MacBook Air 1:38 @ s DEGHI M command command option Dr. Laura Smith opened a medical practice specializing in physical therapy. During the first month of operation (July), the business, titled Dr. Laura Smith, Professional Corporation (P.C.), experienced the following events: Click the icon to view the events.) Read the requirements To Requirement 2. Aher completing the analysis answer these questions about the business b. How much does the business expect to collect from patients? $ GHow much does the b o we inat? $ Choose from any ator entrany number in the routes and then continue to the next question 8 9 0 command command option Dr. Laura Smith opened a medical practice specializing in physical therapy. During the first month of operation (y), the business, titled De Laura Smith, Professional Corporation (P.C.), experienced the following events: Click the icon to view the events.) Read the requirements 31 Total Requirement 2. After completing the analysis, answer these questions about the business a. How much are total assets? b. How much does the business expect to collect from patients? $ c. How much does the business owe in our d. How much of the business's sets does Smith really own? .. How much income the amount as a post to od the business experience during front of of during its first month of operations The business experience Choose from any it or enter any number in the outfields and then continue to the next question MacBook Air T 0 P Tumand command option wed a medical practice specializing in physical therapy. During the first month of operation (July), the business, tit innal. Comparation ID ornarianced the following.onante * More Info 6 Smith invested $151,000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $60,000. Smith plans to build an office building on the land. 12 The business purchased medical supplies for $2,200 on account. 15 Dr. Laura Smith, P.C. officially opened for business. 15-31 During the rest of the month, Smith treated patients and earned service revenue of $9,600, receiving cash for half the revenue earned. 15-31 The business paid cash expenses: employee salaries, $3 700; office rent. $1,400: utilities, $1,200.(Record the cash amount as a total and identify and record any other amounts separately.) 31 The business sold supplies to another physician for cost of $100 and received cash. 31 The business borrowed $38,000, signing a note payable to the bank 31 The business paid $900 on account. Print Done om any list or enter any number in the input fields and then continue to the next question 8 of 36 (0 complete) This Tes d a medical practice specializing in physical therapy. During the first month of operation (July), the business, ti onal Corporation (P.C.), experienced the following events: view the events.) 0 Requirements alyze ranse a ze je table 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Laura Smith, P.C. After completing the analysis, answer these questions about the business a. How much are total assets? b. How much does the business expect to collect from patients? c. How much does the business owe in total d. How much of the business's assets does Smith really own? . How much net income or net loss did the business experience during its first month of operations? Print Done any list or enter any number in the input fields and then continue to the next question DII