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On July 22.2022, the general ledger of CraneInc showed these balances Cashs 300 Accounts Receivable $1.00 Supplies $300: Cruipment 55.900. Accounts Payable 54.100.Common Shares $3.100

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On July 22.2022, the general ledger of CraneInc showed these balances Cashs 300 Accounts Receivable $1.00 Supplies $300: Cruipment 55.900. Accounts Payable 54.100.Common Shares $3.100 Retained Earnings: 53.700. During Agiat. th following transactions occurred Aug 2 3 7 13 17 17 20 22 24 27 28 31 Collected $900 olaccounts receivable due from customers. Received 51.700 for issuing common shares to new investors. Paid $2.800 nabunts payable owing Earned fees of 56.900, of whics 52600was collected in cash and the remainder was due on account Purchased additional equipment for $1.000.paying S400 in canhand the balance an account Paidsalaries, 54,300 sent, 5800, and advertising scenes. $225. for the month of August. Collected the balance of the fees are on August Declared and paid $500 of dividends to shareholders. Hilled a client $1,000 for legal services provided Received $2.500 from Laurentian Bank the money was borrowed on a bank loan payable that is due in six mont Signed an engagement letter to provide legal services to adient in September for 54.400 Received the utility bill for the month of August in the amount of $275citis due September ts. Paid income tax for the month 5500 (a) Beginning with the July 31 balances, prepare an equation analysis of the effects of the opening balances and above transactio on the panded accounting equation, la transaction causa decreme in Assets, Liabilities or Shareholders' Equity place a reput en for parentheses in front of the amount entered for the particular Asset Lisbility or Equity item that was reduced. See listration form) Assets Cash Accounts Receivable Supplies $ July 31 Ral Aug 2 3 0 7 13 17 17 20 22 24 28 31 5 Aug 31 Bal

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