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A. tabular analysis B. income statement C. statement of retained earnings D. balance sheet Bindy Crawford created a corporation providing legal services, Larkspur, Inc., on

A. tabular analysis
B. income statement
C. statement of retained earnings
D. balance sheet
image text in transcribed
Bindy Crawford created a corporation providing legal services, Larkspur, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,200: Accounts Receivable $3,850; Supplies $840; Equipment $6,350; Accounts Payable $5,550; Common Stock $8,750; and Retained Earnings $1.940. During August the following transactions occurred. Aug. 1 4 9 15 Collected $1,030 of accounts receivable due from customers. Pald $2.780 cash for accounts payable due. Performed services worth $5,610, of which $3,540 is collected in cash and the balance is due in September Purchased additional office equipment for $4,350, paying $440 in cash and the balance on account. Pald salaries $1,350, rent for August $650, and advertising expenses $300 Paid a cash dividend of $700. Borrowed $5,200 from American Federal Bank: the money was borrowed on a 4-month note payable. Incurred utility expenses for the month on account $420. 19 23 26 31

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