m/edugen/shared/iws/main.uni?assignment asnmt22685488agtype-38classid-cls6867188mode-practice&ischeme-student&context book CALCULATOR PRIN Practice Exercise 2 Donna Clark opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,700, Accounts Receivable $1,500, Supplies $5 and Owner's Capital $10,300. During August, the following transactions occurred. 1. Collected $1,200 of accounts receivable. 2. Paid $2,400 cash on accounts payable. 3. Recognized revenue of $7,500, of which $2,900 is collected in cash and the balance is due in September. 4. Purchased additional equipment for $2,200, paying $400 in cash and the balance on account. 5. Paid salaries $1,800, rent for August $1,000, and advertising expenses $300. 6. Withdrew $900 in cash for personal use. Received $1,200 from Standard Federal Bank-money borrowed on a note payable. Incurred utility expenses for month on account $340. 7. 8. Prepare a tabular analysis of the August transactions beginning with July 31 balances. (If a transaction results in a decrease in Assets, Liabilit sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See m/edugen/shared/iws/main.uni?assignment asnmt22685488agtype-38classid-cls6867188mode-practice&ischeme-student&context book CALCULATOR PRIN Practice Exercise 2 Donna Clark opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,700, Accounts Receivable $1,500, Supplies $5 and Owner's Capital $10,300. During August, the following transactions occurred. 1. Collected $1,200 of accounts receivable. 2. Paid $2,400 cash on accounts payable. 3. Recognized revenue of $7,500, of which $2,900 is collected in cash and the balance is due in September. 4. Purchased additional equipment for $2,200, paying $400 in cash and the balance on account. 5. Paid salaries $1,800, rent for August $1,000, and advertising expenses $300. 6. Withdrew $900 in cash for personal use. Received $1,200 from Standard Federal Bank-money borrowed on a note payable. Incurred utility expenses for month on account $340. 7. 8. Prepare a tabular analysis of the August transactions beginning with July 31 balances. (If a transaction results in a decrease in Assets, Liabilit sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See