Testing Under a Load.

Performing this additional test requires the same equipment plus a 1500 watt Hair Dryer. I can see the merits of this test since it would give a more accurate reading to the condition of the Service. 
Use this tree way splitter for this test
30-amp outlet
With NO Load 126 volt With the 1500 watt Hair Dryer 122 volt
50-amp outlet testing with one 1500 watt load. 

The 50-amp outlet shows 126 volt under load and no load. Using a 1500 watt Hair Dryer is a small load for this service but a loose connection or bad neutral may show up. This photo shows the test on L1 to test L2 move the 3-way splitter with the Voltmeter and Dryer over to the right. 
Read the Open Neutral problem recently encountered on a 50-amp Camp Ground Electric Service by Daryl Daughters. You will see that checking for open neutral with one 1500 watt load may not be enough. The larger the load (watts) on the service the likelihood of an Open Neutral problem showing up will increase. 
In order to test the outlet under a larger load as recommended by Daryl we need to plug in more than one 1500 watt appliance (Hair Dryer or Electric Heater) The following photos show a way to accomplish this. 
Need a 3-way Heavy Duty extension cord Use the splitter for extra room 
Plug the Voltmeter and the Analyzer into the splitter.  Plug the 1500 watt load's in the extension cord