Judi salem opened a Law on July 1, 2017 On July 31, the bal sheet showed cash = $ 5000 accts rec = $1,500, supplies = $ 500, eqyuo = $ 6000 accts payable = $ 4,200 and owner's capst = $ 8,800 During august, the foll Transaction occurred coll $ 1200 of accts payable paid $ 2800 cash on Accts payable Recognised revenue of $ 7500 of which $ 3 000 is collected in cash and the ball is due in September Paid salaries $ 2,500, rent for August $ 900 and advertizing exp $ 400 Withdrew $ 700 in cash for personal use. Received from standard federal Bank-Money Borrowed on a payable