Aug. 2 7 One Sandhill Corp. had the following transactions during the first month of business. Owner invested $12,250 cash and $2,445 of equipment in the business in exchange for common shares. Purchased supplies on account for $675. (Debit asset account.) 12 15 Performed services for clients, collecting $1,315 in cash and billing the clients $685 for the remainder. Paid August rent, $565. 19 Counted supplies and determined that only $275 of the supplies purchased on August 7 were still on hand.