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uestion 1 of 2 9.72/50 Debra Crawford created a corporation providing legal services, Debra Crawford Inc, on July 1, 2022. On July 31 the balance sheet showed Cash $5,120. Accounts Receivable $3,200, Supplies $640, Equipment $6,400, Accounts Payable $5,376, Common Stock $7,936, and Retained Earnings \$2,048. During August, the following transactions occurred. Aug.1 Collected $1,408 of accounts receivable due from customers. 4 Paid $3,456 cash for accounts payable due. 9 Performed services worth $6,92, of which $4,608 is collected in cash and the balance is due in September: 15 Purchased additional office equipment for \$5,120, paying \$896 in cash and the balance on account. 19 Paid salaries $1,792, rent for August $896, and advertising expenses $448. 23 Paid a cash dividend of $896. 26 Borrowed $6,400 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $496. Question 1 of 2 9.72/50i