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i need help with the red boxes please On August 31, the balance sheet of Kingbird, Inc. showed Cash $10,000, Accounts Receivable $2,700, Supplies $600,

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On August 31, the balance sheet of Kingbird, Inc. showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipment $6,000, Accounts Payable $4,600, Common Stock $13,950, and Retained Earnings $750. During September, the following transactions occurred. 1 Paid $3,300 cash for accounts payable due. 2. Collected $2,000 of accounts receivable. Purchased additional equipment for $1,150, paying $750 in cash and the balance on account. 3. 4. 5. Recognized revenue of $8,100, of which $2,250 is collected in cash and the balance is due in October Declared and paid a $450 cash dividend. Paid salaries $2,050, rent for September $1.050, and advertising expense $100. 6. N Incurred utilities expense for month on account $250, 8. Received $14,000 from Capital Bank on a 6-month note payable. Balance Sheet September 30, 2022 Assets cash $ 2,250 Accounts Receivable Equipment 1.150 Supplies 600 Total Assets $ 17.900 Liabilities and Stockholders' Equity Labilities Liabilities and Stockholders' Equity Liabilities Notes Payable 14,000 Accounts Payable 3,300 $ Total Liabilities 17,300 Stockholders' Equity Common Stock 13,950 750 Retained Earnings 14.700 Total Stockholders Equity 32.000 Total Liabilities and Stockholders' Equity

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