On July 31, 2022, the general ledger of Hills Legal Services Inc. showed the following balances: Cash $4,000, Accounts Receivable $1,500, Supplies $500, Equipment $5,000, Accounts Payable $4,100, Common Stock $3,500, and Retained Earnings $3,400. During August, the following transactions occurred. Current Attempt in Progress Aug. 3 Collected $1,200 of accounts receivable due from customers. 5 Received $1,300 cash for issuing common stock to new investors. 6 Paid $2,700 cash on accounts payable. 7 Performed legal services of $6,500, of which $3,000 was collected in cash and the remainder was due on account. 12 Purchased additional equipment for $1,200, paying $400 in cash and the balance on account. 14 Paid salaries $3,500, rent $900, and advertising expenses $275 for the month of August. 18 Collected the balance for the services performed on August 7. 201 Paid cash dividend of $500 to stockholders. 1 18 " 2 80 23 32 W $ 4 4 #3 FA % 85 FS T W MacBook 90 F7 < 6 & 7 * 8 6 8 8: DD a 10 0