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Current Attempt in Progress On August 31, the balance sheet of Blossom Company showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable
Current Attempt in Progress On August 31, the balance sheet of Blossom Company showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,900, and Retained Earnings $800. During September, the following transactions occurred. Paid $1,950 cash for accounts payable due. Collected $2,150 of accounts receivable. Purchased additional equipment for $2,600, paying $850 in cash and the balance on account. Recognized revenue of $7,250, of which $1,950 is collected in cash and the balance is due in October. Declared and paid a $1,000 cash dividend. Paid salaries $2,350, rent for September $1,100, and advertising expense $200. Incurred utilities expense for month on account $300. Received $11,000 from Cap
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