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Patricia Johnson opened a law office on July 1 , 2 0 2 2 . On July 3 1 , the balance sheet showed Cash

Patricia Johnson opened a law office on July 1,2022. On July 31, the balance sheet showed Cash $5,100, Accounts Receivable $1,900, Supplies $400, Equipment $6,000, Accounts Payable $4,300, and Owner's Capital $9,100. During August, the following transactions
1. Collected $1,600 of accounts receivable.
2. Paid $2,800 cash on accounts payable
3. Recognized revenue of $6,800 of which $2,600 is collected in cash and the balance is due in September.
4. Purchased additional equipment for $1,900, paying $400 in cash and the balance on account.
5. Paid salaries $2,500, rent for August $1,100, and advertising expenses $450.
6. Withdrew $700 in cash for personal use.
7. Received $1,200 from Standard Federal Bank-money borrowed on a note payable.
8. Incurred utility expenses for month on account
Use the informatuon above to answer the question in the picture. The red boxes are answers ive inputted but are
Wrong.
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