On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. Accounts payable Accounts receivable Cash Computer equipment Furniture Breanne Allarie, capital, June 30, 2023* office rent expense Owner's investments during July 2023 Owner's withdrawals Supplies Textbook rental revenue Tutoring revenue Tutors' wages expense Utilities expense $ 3,350 5,700 5,300 5,900 5,500 22, 200 6,200 4,900 4,700 2,760 670 7,900 1,910 1,050 *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.

On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. "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. Prepare a July 31 balance sheet for Academic Learning Services. Analysis Component: Identify how much of the assets held by Academic Learning Services are financed by debt