Problem 3-9A (Part Level Submission) On July 31, 2017, the general ledger of Tamarisk, Inc. showed the following balances: Cash $3,600, Accounts Receivable $1,350, Supplies $450, Equipment $4,500, Accounts Payable $3,690, Common Stock $3,150, and Retained Earnings $3,060. During August, the following transactions occurred. Aug. 3 Collected $1,080 of accounts receivable due from customers. 5 Received $1,170 cash for issuing common stock to new investors. 6 Paid $2,430 cash on accounts payable. 7 Performed legal services of $5,850, of which $2,700 was collected in cash and the remainder was due on account. 12 Purchased additional equipment for $1,080, paying $360 in cash and the balance on account. 14 Paid salaries $3,150, rent $810, and advertising expenses $250 for the month of August. 18 Collected the balance for the services performed on August 7. 20 Paid dividends of $450 to stockholders. 24 Billed a client $900 for legal services performed. 26 Received $1,800 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 $4,050. 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 $250; it is not due until September 15. 31 Paid income tax for the month $450. v (a) x Your answer is incorrect. Try again. Using T-accounts, enter the beginning balances to the ledger. Cash x Aug. 3 Aug. 3 1200 1200 Accounts Receivable Supplies Equipment Accounts Payable Common Stock Retained Earnings