Jenny Brown opened a law office, on July 1, 2008. On July 31. the balance sheet showed Cash $5,000. Accounts Receivable $1,500, Supplies $500. Office Equipment $6,000, Accounts Payable $4,200, and Jenny Brown, Capital $8,800. During August the following transactions occurred. 1. Collected $1,200 of accounts receivable. 2. Paid $2.800 cash on accounts payable. 3. Eamed revenue of $8,000 of which $3,000 is collected in cash and the balance is due in September 4. Purchased additional office equipment for $2,000, paying $400 in cash and the balance on account 5. Paid salaries $2,500, rent for August $900, and advertising expenses $400. 6. Withdrew $ 700 in cash for personal use. 7. Received $1.500 from Standard Federal Bank-money borrowed on a note payable. 8. Incuired utility expenses for month on account $220. Instructions (b) Prepare an income statement for August, an owner's equity statement for August, and a balance sheet at August 31