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Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,300; Accounts Receivable

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Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,300; Accounts Receivable $5,300; Supplies $960; Equipment $7,800; Accounts Payable $7,000; Common Stock $9,300; and Retained Earnings $2,060. During August the following transactions occurred. Aug. 1 Collected $1,100 of accounts receivable due from customers, Paid $2,720 cash for accounts payable due. Performed services worth $5,790, of which $3,540 is collected in cash and the balance is due in September 15 Purchased additional office equipment for $4.470, paying $420 in cash and the balance on account. 19 Paid salaries $1.480, rent for August $650 and advertising expenses $370. 23 Paid a cash dividend of $760, 26 Borrowed $5.700 from American Federal Bank; the money was borrowed on a 4-month note payable. Incurred utility expenses for the month on account $450. 4 9 31 (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in Retained Earnings. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example. Post entries in the order presented in the question.) Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in Retained Earnings. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example. Post entries in the order presented in the question.) Assets Cash Accounts Receivable + Supplies $ July 31 Bal. Aug. 1 4 9 15 19 23 26 31 $ Tavthank and Media parenthes example. Post entries in the order presented in the question.) METLOCK, INC. + Liabilities Accounts Payable Common Stock Equipment Notes Payable $ example. Post entries in the order presented in the question.) Stockholders' Equity Dividends Retained Earnings Revenues Expenses eTexthonk and Media Stockholders'Equity Expenses Dividends venues

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