Question 2 of 2 -/50 View Policies Current Attempt in Progress Ruth Lewis opened a law office on July 1, 2022 On July 31. the balance sheet showed Cash 55.000. Accounts Receivable $1700, Supplies S500. Equipment 55.700, Accounts Payable $ 3.600. and Owners Capital 9300. During August, the following transactions occurred. 1 2 3 4. Collected $ 1.400 of accounts receivable Paid $ 2.800 cash on accounts payable. Recognized revenue of $ 7.700 of which $ 2,500 is collected in cash and the balance is due in 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 $ 350 Withdrew $ 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. ON 7. 8. (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. Of a transaction results in a decrease in Assets Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example) Inco Question 2 of 2 - 50 Prepares tabular analysis of the August transactions beginning with July 31 lunces of transaction result in a decreasines Lot Owner Equity cente sign for parmhered in front of the amount entered for the particular Anettability or Early Hem that was reduced. Seustration 1-3 forum) Assets Cash Accounts Recible Supe 74'F Mostly cloudy BPM 15/20 em that was reduced. See Illustration 1-8 for example.) RUTH LEWIS, ATTORNEY AT LAW Liabilities Equipment Notes Payable Accounts Payable Owner's Capital $ = A ULO FULL Owner's Equity Owner's Capital Owner's Drawings Revenues Expenses S s