Lucy Satterly opened a medical practice. During July, the first month of operation, the business, titled Lucy Satterly, MD, experienced the follow (Click the icon to view the transactions.) Analyze the effects of these events on the accounting equation of the medical practice of Lucy Satterly, MD. Liab. = Liabilities; Med. = Medical; Rev. - Revenue; Sal. = Salaries; Sup. - Supplies.) Assets - Liab. + Equity Land AP Contr. Capital + + Com - Stock 75.000 Cash + Med. Sup. 75,000 Div. Retained Earnings - Service - Sal . Rent Rev. Exp. Exp. Utilities Exp. 716 719 Librar Enter any number in the edit fields and then click Check Answer practice. During July, the first month of operation, the business, titled Lucy Satterly, MD, experience ansactions.) ents on the accounting equation of the medical practice of Lucy Satterly, MD. Zal; Rd More Info + U Jul. 6 Received a contribution of $75,000 from Satterly and opened a bank account in the name of L. Satterly, MD. The corporation issued common stock to Satterly. 9 Paid $44,000 cash for land. 12 Purchased medical supplies for $1,900 on account. 15 Officially opened for business. 20 Paid cash expenses: employees' salaries, $1,100; office rent, $700; utilities, $250. 31 Earned service revenue for the month, $11,000, receiving cash. 31 Paid $1,300 on account. edit fields Ch