On July 31, 2025, the general ledger of Crane Legal Services Inc. showed the following balances: Cash $3,920, Accounts Receivable $1,470, Supplies $490, Equipment $4,900, Accounts Payable $4,020, Common Stock $3,430, and Retained Earnings $3,330. During August, the following transactions occurred. Aug. 3 (a) 5 6 7 12 14 18 20 24 26 27 20 28 31 Collected $1,180 of accounts receivable due from customers. Received $1,270 cash for issuing common stock to new investors. Paid $2,650 cash on accounts payable. Performed legal services of $6,370, of which $2,940 was collected in cash and the remainder was due on account. Purchased additional equipment for $1,180, paying $390 in cash and the balance on account. Paid salaries $3,430, rent $880, and advertising expenses 270 for the month of August. Collected the balance for the services performed on August 7. Paid cash dividend of $490 to stockholders. Billed a client $980 for legal services performed. Received $1,960 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 $4.410. 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 $270, it is not due until September 15. Paid income tax for the month $490. Using T-accounts, enter the beginning balances to the ledger.

On July 31, 2025, the general ledger of Crane Legal Services inc, showed the following balances: Cash \$3,920, Accounts Receivable $1,470, Supplies $490, Equipment \$4,900, Accounts Payble \$4020, Common \$tock \$3,430, and Retalned Earrings \$3,330. Dur ing August, the following transactions occurred, Auz.3 Collected $1.100 of accounts recelvable due from customeis 5 Recelved $1,270 cash for issuing common stock to new investors: 6 Paid $2,650 cash on accounts payable. 7 Perlormed legal services of $6,370, of which $2,940 was collected in canh and the remainder was due on x count 12 Purchased additional equipment for $1,180, paying $390 in cash and the balance on account: 14 Paid sabries $3,430, rent $800, and advertising expenses $270 for the month of August. 18 Collected the balance for the services performed on August 7. 20 Paid cash eividend of $490 to stockholders. 24 Bilied a client $900 for legal services performed. 26 Received $1,960 from Laurentian Bank the money was borrowed on a bank note payable that is due is 6 months. 27. Agreed to performilegal services for a client in September for \$4,410. The client will pay the amount owing after the sevices have been performed. 28 Received the utility bill for the manth of August in the amount of $270, it 'ts not due until September 15. 31 Paid incometax for the month $490