-/10 E Current Attempt in Progress Sandra Robinson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,700, Supplies $500, Equipment $5,500, Accounts Payable $4,200, and Owner's Capital $8,700. During August, the following transactions occurred. 1. Collected $1,400 of accounts receivable. 2. Paid $2,900 cash on accounts payable. 3. 4. Recognized revenue of $8,800, of which $2,700 is collected in cash and the balance is due in September. Purchased additional equipment for $1,500, paying $400 in cash and the balance on account. Paid salaries $1,900, rent for August $1.200, and advertising expenses $300. 6700 6. 7. Withdrew $700 in cash for personal use. 8. Incurred utility expenses for month on account $300. Received $1,400 from Standard Federal Bank-money borrowed on a note payable. (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Accounts Receivable Assets Supplies Equipn