On July 31, 2022, the general ledger of Blossom Legal Services Inc. showed the following balances: Cash $4,800, Accounts Receivable $1,800. Supplies $600, Equipment $6,000, Accounts Payable $4.920. Common Stock $4,200, and Retained Earnings $4.080. During August, the following transactions occurred. Aug. 3 5 6 7 12 14 18 20 24 Collected $1.440 of accounts receivable due from customers. Received $1,560 cash for issuing common stock to new investors. Paid $3.240 cash on accounts payable. Performed legal services of $7,800, of which $3,600 was collected in cash and the remainder was due on account. Purchased additional equipment for $1.440.paying $480 in cash and the balance on account Paid salaries $4,200. rent $1,080, and advertising expenses $330 for the month of August. Collected the balance for the services performed on August 7. Paid cash dividend of $600 to stockholders. Billed a client $1.200 for legal services performed. Received $2,400 from Laurentian Bank the money was borrowed on a bank note payable that is due in 6 months. Agreed to perform legal services for a client in September for $5.400. The client will pay the amount owing after the services have been performed Received the utility bill for the month of August in the amount of $330; it is not due until September 15. Paid income tax for the month $600. 26 27 28 31 Question 5 of 5 > Accounts Receivable July 31 1,800 > Equipment July 31 6,000 Accounts Payable July 31 4,920 Notes Payable Common Stock July 31 4,200 > Salaries and Wages Expense Advertising Expense >