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On July 31,2025 , the general ledger of Crane Legal Services Inc. showed the following balances: Cash $4,880, Accounts Receivable $1,830, Supplies $610, Equipment $6,100,

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On July 31,2025 , the general ledger of Crane Legal Services Inc. showed the following balances: Cash $4,880, Accounts Receivable $1,830, Supplies $610, Equipment $6,100, Accounts Payable $5,000, Common Stock $4,270, and Retained Earnings $4,150. During August, the following transactions occurred. Aug. 3 Collected $1,460 of accounts receivable due from customers. 5 Received $1,590 cash for issuing common stock to new investors. 6 Paid $3,290 cash on accounts payable. 7 Performed legal services of $7,930, of which $3,660 was collected in cash and the remainder was due on account. 12 Purchased additional equipment for $1,460, paying $490 in cash and the balance on account. 14 Paid salaries $4,270, rent $1,100, and advertising expenses $335 for the month of August. 18 Collected the balance for the services performed on August 7. 20 Paid cash dividend of $610 to stockholders. 24 Billed a client $1,220 for legal services performed. 26 Received $2,440 from 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 $5,490. 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 $335; it is not due until September 15. 31 Paid income tax for the month $610. Question 5 of 5 Using T-accounts, enter the beginning balances to the ledger. Common Stock Retained Earnings

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