6 of 6 -/5 E Bindy Crawford created a corporation providing legal services, Kingbird, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $6,200; Accounts Receivable $7,500; Supplies $950; Equipment $10,000; Accounts Payable $9,200; Common Stock $13,400; and Retained Earnings $2,050. During August the following transactions occurred. Aug. 1 Collected $1,050 of accounts receivable due from customers. Paid $2,790 cash for accounts payable due. 9 4 15 15 19 Performed services worth $5,720, of which $3,560 is collected in cash and the balance is due in September. Purchased additional office equipment for $4,360, paying $410 in cash and the balance on account. Paid salaries $1,350, rent for August $790, and advertising expenses $320. 23 Paid a cash dividend of $770. 26 31 Borrowed $5,050 from American Federal Bank; the money was borrowed on a 4-month note payable. Incurred utility expenses for the month on account $360. (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in Retained Earnings. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' 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 3-4 for example. Post entries in the order presented in the question.) Question 6 of 6 < > July 31 Bal. Aug. 1 4 15 19 23 26 $ Cash $ Accounts Receivable Assets Supplies $ -/5 = Question 6 of 6 $ -/5 E! Liabilities Equipment Notes Payable + Accounts Payable + Common Stock $ $ Question 6 of 6 Retained Earnings Revenues Stockholders' Equity Expenses $ -/5 E! Dividends