Question 2 of 2 12.5750 View Policis Show Attempt History Current Attempt in Progress Ruth Lewis opened law office on July 1, 2022. On July 31. the balance sheet showed Cash 55.000, Accounts Receivable $ 1.700, Supplies 5500, Equipment 55.700, Accounts Payable $ 3.600, and Owier's Capital 59,300. During August, the following transactions Occurred 2. Collected $ 1.400 of accounts recevable Pald's 2.800 cash on accounts payable Recognized revenue of $ 7.700 of which $ 2.500 is collected in cash and the balance la dudin September Purchased additional equipment for $2.100, paying $ 500 in cash and the balance on account Paid salaries $1.700. rent for August $ 1,100 and advertising expenses S 350 Witharew $ 700 in cash for personal use. Received $ 1.600 from Standard Federal Bank-money borrowed on a note payable. Incurred utility expenses for month on account 180. 5 6. 7 8 (a) Your answer is correct bil Prepare an income statement for August RUTHLEWIS, ATTORNEY AT LAW Income Statement eTextbook and Media 74F