On July 31, 2022, the general ledger of Stresert Corp. showed the following balances: Cash $4,160, Accounts Receivable $1,560, Supplies $520, Equipment $5,200, Accounts Payable $4,260, Common Stock $3,640, and Retained 

Earnings $3,540. During August, the following transactions occurred.

 

Aug. 3 Collected $1,250of accounts receivable due from customers.

5 Received $1,350cash for issuing common stock to new investors.

6 Paid $2,810cash on accounts payable.

7 Performed legal services of $6,760, of which $3,120was collected in cash and the remainder was due on account.

12 Purchased additional equipment for $1,250, paying $420in cash and the balance on account.

14 Paid salaries $3,640, rent $940, and advertising expenses $285for the month of August.

18 Collected the balance for the services performed on August 7.

20 Paid cash dividend of $520to stockholders.

24 Billed a client $1,040for legal services performed.

26 Received $2,080from Laurentian Bank; the money was borrowed on a bank note payable that is due in 6 months.

27 Agreed to perform legal services for a client in September for $4,680. The client will pay the amount owing after the services have been performed.

28 Received the utility bill for the month of August in the amount of $285; it is not due until September 15.

31 Paid income tax for the month $520.

Draw up a trial balance on August 31, 2022.