Problem 1-02A a,b1-b3 (Video) Laura Hall opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,300, Accounts Receivable $1,900, Supplies $600, Equipment $5,900, Accounts Payable $4,500, and Owner's Capital $9,200. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $3,000 cash on accounts payable. 3. Recognized revenue of $8,600, of which $1,800 is collected in cash and the balance is due in September. 4. Purchased additional equipment for $2,100, paying $500 in cash and the balance on account. 5. Paid salaries $2,200, rent for August $1,000, and advertising expenses $350. 6. Withdrew $800 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 $280. Prepare an income statement for August. LAURA HALL, ATTORNEY AT LAW Income Statement S $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT