Company prepare monthly financial statements. The following is the company's July 1 Balance Sheet: Balance Sheet July 1 Equities Accounts Payable Notes Payable $5,124 Assets Casi Accounts Receivable Inventory Prepayment Fuipment Total Assets $37 767 5.722 11.096 3,456 68.008 Paid-In Capital Retained Earnings Total Equities 38,395 $126,039 The following were the company's July transactions 1. borrowed $24,000 from a bank 2. bought quipment costing $9,600, paying the manufacturer $5,100 in cash and signing a note for $4,500 3. purchased $6,000, five year insurance policy paying for two years in advance 1. paid hack a previous loan for $3,220 8p6. What was the balance in the Cash account on July 31 [ignore adjusting entries 6. AO 87.948 BO $11,525 CO 816,70 DO 524,212 EO $35,136 FO $60,947 877. What were total assets on July 31 gnare adjusting entries 7. AO 536,317 HO $4,328 CO $64,276 DO 855,458 RO 5119,00 FO 5151,219 X Company prepares monthly financial statements. It countant recorded the following October 1 transactions and the appropriate adjusting entries on October 31: 1. On October 1, the company paid rent for the final three months of the year. Rent was 31,450 per month. On October 1, the company purchased equipment that cost $10,000, borrowing the full amount from a bank. The cuipment a life of three years and a slynge value at that time of $1,000. The company will repay the l o December 31, along with interest at $102 per month What was the effect of the nccountant's entries on total assets? H. AO 57.00 DO 55,300 CO 69,711 DO $11,362 EO $13,200 FO $15,652 8 9. What was the cloct of the accountants ont on Net Income in October? 9. AD S-231 BO 8.406 CO -591 DO 887 BO $1,205 FO $1,802