Bindy Crawford created a corporation providing legal services, Splish Brothers Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,700; Accounts Receivable $6,150; Supplies $990; Equipment $8,650; Accounts Payable $7,850; Common Stock $10,550; and Retained Earnings $2,090. During August the following transactions occurred.

Aug. 1		Collected $1,150 of accounts receivable due from customers.
4		Paid $2,720 cash for accounts payable due.
9		Performed services worth $6,030, of which $3,570 is collected in cash and the balance is due in September.
15		Purchased additional office equipment for $4,140, paying $420 in cash and the balance on account.
19		Paid salaries $1,320, rent for August $600, and advertising expenses $450.
23		Paid a cash dividend of $680.
26		Borrowed $5,950 from American Federal Bank; the money was borrowed on a 4-month note payable.
31		Incurred utility expenses for the month on account $400.

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