Lauren Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Lauren Steinbeck, MD, experienced the following events: (Click the icon to view the transactions.) Analyze the effects of these events on the accounting equation of the medical practice of Lauren Steinbeck, MD Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th, calculate the balance in each account afte analyzing its effect on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] For transactions with the same date sure to enter each transaction on a separate line in the order presented in the problem. Carry down all balances to the "Bal." line, including zero balance accounts, entering a "O" for any zero balances. Enter decrease in an account with a minus sign or parentheses. Abbreviations used: AIP Accounts Payable; Com. Common; Contr= Contributed; Div= Dividends; Exp= Expense: Liab. = Liabilities: Med. Medical; Rev. Revenue: SalSalaries; Sup.Supplies.) Assets Liab. + Equity Contr Capita + Retained Earnings CashMed. +Land A/PCom Div. +ServiceSal. RentUtilities Stock Exp Exp Exp 716 More Info Jul. 6 Received a contribution of 550,000 from Steinbeck and opened a bank account in the name of L. Steinbeck, MD. The corporation ssued common stock to Steinbeck. 9 Paid $35,000 cash for land. 12 Purchased medical supplies for S2,300 on account. 15 Officially opened for business 20 Paid cash expenses: employees' salaries, $800; office rent, S1,800; 31 31 utilities, 3350 Earned service revenue for the month, $15,000, receiving cash. Paid $1,550 on account