Bindy Crawford created a corporation providing legal services, Metlock Inc., on July 1, 2025. On July 31 the balance sheet showed Cash $5,400, Accounts Receivable $4,150, Supplies $810, Equipment $6,650, Accounts Payable $5,850, Common Stock $9,250, and Retained Earnings $1,910. During August, the following transactions occurred. Aug. 1 4 9 15 19 23 26 31 Collected $1,080 of accounts receivable due from customers. Paid $2,770 cash for accounts payable due. Performed services worth $5,680, of which $3,660 is collected in cash and the balance is due in September. Purchased additional office equipment for $4,480, paying $490 in cash and the balance on account. Paid salaries $1,480, rent for August $600, and advertising expenses $360. Paid a cash dividend of $640. Borrowed $5,750 from American Federal Bank; the money was borrowed on a 4-month note payable. Incurred utility expenses for the month on account $420.

Bindy Crawford created a corporation providing legal services. Metlock Inc., on July 1,2025. On July 31 the balance sheet showed Cash $5,400, Accounts Receivable $4,150, Supplies $810. Equipment $6,650, Accounts Payable $5,850, Common $ tock $9,250, and Retained Earnings \$1,910. During August, the following transactions occurred. Aug. 1 Collected $1,080 of accounts receivable due from customers. 4 Paid \$2,770 cash for accounts payable due. 9 Performed services worth $5,680. of which $3,660 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,480, paying $490 in cash and the balance on account. 19 Paid salaries $1,480, rent for August $600, and advertising expenses $360. 23 Paid a cash dividend of $640. 26 Borrowed $5,750 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $420