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On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the companys records
On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the companys records that showed the following items. Accounts payable $ 3,000 Accounts receivable 5,000 Cash 4,600 Computer equipment 5,200 Furniture 4,800 Breanne Allarie, capital, June 30, 2023* 19,400 Office rent expense 5,500 Owners investments during July 2023 4,200 Owners withdrawals 4,000 Supplies 2,480 Textbook rental revenue 600 Tutoring revenue 7,200 Tutors wages expense 1,840 Utilities expense 980 *Hint: The ending capital balance for one period is the beginning capital balance for the next period. Prepare a July 31 balance sheet for Academic Learning Services
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