Prepare a balance sheet at August 31. (List Assets in order of liquidity.) LISA ANDERSON, ATTORNEY AT LAW Balance Sheet Assets $ $ Liabilities and Owner's Equity $ $ Lisa Anderson opened a law office on July 1.2020. On July 31, the balance sheet showed Cash 55,800, Accounts Receivable 5 1.600. Supplies $ 600, Equipment $ 5,500, Accounts Payable $3,500, and Owner's Capital $10,000. During August, the following transactions occurred. 1 2 3. Collected $ 1,300 of accounts receivable. Paid $ 2.700 cash on accounts payable. Recognized revenue of $ 7,300, of which $ 1.500 is collected in cash and the balance is due in September Purchased additional equipment for $1,500, paying $ 400 in cash and the balance on account Paid salaries $ 2,300, rent for August $ 1.000, and advertising expenses $350. Withdrew $ 700 in cash for personal use. 4. 5. 6. 7 Received $ 1.800 from Standard Federal Bank-money borrowed on a note payable. 8 Incurred utility expenses for month on account $ 180