Lisa Anderson opened a law office on July 1, 2020. On July 31. the balance sheet showed Cash $5.800. Accounts Receivable $1.600, Supplies $600. Equipment $5.500Accounts Payable $3.500, and Owner's Capital $10.000. During August, the following transactions occurred. 1. 2. 3 4 Collected $1.300 of accounts receivable, Paid $2,700 cash on accounts payable Recognized revenue of $7,300, of which $1.500 is collected in cash and the balance is due in September Purchased additional equipment for $1.500 paying $400 in cash and the balance on account. Paid salaries $2,300, rent for August $1.000, and advertising expenses $350. Withdrew $700 in cash for personal use. Received $1.800 from Standard Federal Bank-money borrowed on a note payable. Incurred utility expenses for month on account $180. 5. 6. 7. 8. (a) Your answer is partially correct. Prepare a tabular analysis of the August transactions beginning with July 31 balances. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for comple) Assets Cash Accounts Receiva Supplies Bal. $ 5800 1600 $ 600 $ 1. 1300 1300 2. 2700 3. 1500 400 5. 3650 6. 700 7. 1800 8 $ $ 600