Accounts payable $2,100 Deferred revenue $1,320 Accounts receivable 3,100 Equipment 9,000 Accumulated depreciation-equipment 1,800 Retained earnings 12,100 Accumulated depreciation-vehicles 4,500 Salaries payable 1,490 Bank loan payable (non-current) 4,100 Supplies 1,010 Cash 7,200 Vehicles 22,500 Common shares 15,400 During August, the following summary transactions were completed: Paid $270 for advertising on Kijiji for the current month. Provided $1,320 of services related to cash received in advance last month for services to be performed this month. Aug. 1 2 3 Paid August rent, $1,010. 6 Received $1,100 cash from customers in payment of accounts. 7 10 13 15 20 22 Signed a contract with Merrithew's Appliances Ltd. to provide future repair services for its customers as required. Paid $3,290 for salaries due employees, of which $1,800 was for August and $1,490 for July salaries payable. Received $2,800 cash for services performed to date in August. Purchased new equipment for $1,900, which was financed with a bank loan. Paid creditors $2,100 of accounts due. Purchased supplies on account for $800. Paid $2,600 for employees' salaries. Billed customers $3,800 for services performed. Received $700 from customers for services to be performed in the future. 24 27 29 30 Paid $600 on the bank loan, in addition to interest of $60. 31 Paid income tax of $380. 31 Declared and paid $420 of dividends to shareholders.