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 Collected $1,030 of accounts receivable due from customers. Paid $2,780 cash for accounts payable due. 9 Performed services worth $5,610, of which $3,540 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,350, paying $440 in cash and the balance on account. Paid salaries $1,350, rent for August $650, and advertising expenses $300. 19 23 Paid a cash dividend of $700. 26 26 31 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.