5.0 Conditional 98 C 19850 Bindy Crawford created a corporation providing legal services, B Crawford Inc., on July 1, 2017. on July 31. the balance sheet showed Cash Accounts Receivable $2,500; Supplies Equipment Accounts Payable $4,200; Common Stock $6,200; and Retained Earnings $1.60 During August, the following transactions occurred. 1 Aug Collected $1,100 of accounts receivable due from customers. 4 Paid $2,700 cash for accounts payable due. 9 Performed services worth ss,400 of which $3,600 is collectedIn cash and the balance is due in september. 15 Purchased additional office equipment for paying $7oo in cash and the balance on account. 19 salaries $1,400, rent for Aug $7oo, and advertising expenses $350. 23 Paid a cash dividend of $700. 26 Borrowed ss.ooo from standard Federal Bank; the money was borrowed on a 4-month note payable. 31 incurred utility expenses for the month on account $380. instructions (a) should be tabular analysis of the August transactions beginning with July 31 balances. The column head Stock cash Accounts Receivable t Equipment -Notes Payable Accounts Payable Common Retained Earnings Expenses include margin explanations for any changes Earnings. (b) Prepare an income statement for August, a retained earnings statement and a classified balance sheet at August 31 for August, NOTE: Enter a number in cells requesting a value; enter a formula in cells with a "7". BINDY CRAWFORD INC. (a) Liabilities Receivable Notes Accounts supplies t Equipment able able stock $500 $5,000 $4,200 July 31 Bal $4,000 $2,500 $6.200 $1,600 2700 2700