equest P Redirect Show Attempt History Current Attempt in Progress 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 5990; Equipment $8,950; Accounts Payable $8,150; Common Stock $11,850; and Retained Earnings $2,090. During August the following transactions occurred. Aug. 1 Collected $1,170 of accounts receivable due from customers. 4 Paid $2,730 cash for accounts payable due. 9 Performed services worth 56,100, 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 Paid salaries $1.410, rent for August $730, and advertising expenses $340. 23 Paid a cash dividend of $780. 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 $400. Your Answer Correct Answer - Your answer is partially correct. Prepare a tabular analysis of the August transactions beginning with July 31 balances include marrin explanations for any changes in Retained Earnings of a transaction causes a decrease in Assets, Libilities or Stockholders' Equityplacentatives for parentheses in front of the amount entered or Equity item that was reduced. See Mustration 3-4 for example Post entries in the order proces Prepare a classified balance sheet at August 31. (List current assets in order of liquidity) SKYSONG, INC. Balance Sheet For the Month Ended August 31, 2022 Assets Liabilities and Stockholders' Equity 3 Bad Request Redirect Liabilities and Stockholders' Equity e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Submit Antwer