Carol Crawford created a corporation providing legal services, Carol Crawford Inc., on July 1, 2022. On July 31 the balance sheet showed Cash $4,560, Accounts Receivable $2,850, Supplies $570, Equipment $5,700, Accounts Payable $4,788, Common Stock $7,068, and Retained Earnings $1,824. During August, the following transactions occurred.

Aug. 1 Collected $1,254 of accounts receivable due from customers. 4 Paid $3,078 cash for accounts payable due. 9 Performed services worth $6,156, of which $4,104 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $4,560, paying $798 in cash and the balance on account. 19 Paid salaries $1,596, rent for August $798, and advertising expenses $399. 23 Paid a cash dividend of $798. 26 Borrowed $5,700 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $440. Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in revenues or expenses.