Bindy Crawford created a corporation providing legal services, Skysong, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,700; Accounts Receivable $6,450; Supplies $990; Equipment $8,950; Accounts Payable $8,150, Common Stock $11,850; and Retained Earnings $2,090. During August the following transactions occurred. Aug. 11 4 Collected $1,170 of accounts receivable due from customers. Paid $2.730 cash for accounts payable due. 9 Performed services worth $6,100, of which $3,500 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,340, paying $510 in cash and the balance on account. 19 23 26 31 Paid salaries $1,410, rent for August $730, and advertising expenses $340. Paid a cash dividend of $780. 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 $400.