Questions 4, 5, and 6 refer to the following balance sheet and transactions:web> X Company is a merchandiser and prepares monthly financial statements. The following is its balance sheet at the beginning of July: Balance Sheet July 1 Assets Cash Accounts Receivable Inventory Prepaid Rent Equipment Total Assets Equities $56,517 $50,734 Accounts Payable 34,805 Notes Payable 78,272 31,101 226,506 $381,723 5,929 Paid-In Capital 211,983 Retained Earnings S381,723 Total Equities The following summary transactions occurred during July: 1. Sold stock to investors for $48,000. 2. Borrowed $24,000 from a bank and paid off a $12,000 bank loan. 3. Bought $8,497 of merchandise from suppliers, paying $3,247 and promising to pay the rest in August 4. Bought equipment for $35,100 from a manufacturer, paying $4,700 and promising to pay the rest in September. 5. Paid $4,068 to suppliers that it bought merchandise from in June. 6. Sold merchandise, receiving $15,647 cash and promises from customers to pay $4,853; the merchandise that was sold cost $10,250 and was purchased earlier in July 7. Paid $511 for rent in advance. 8. Received $3,184 from customers who purchased merchandise last month. 9. Paid wages and other miscellaneous expenses totaling S5,310. Note: Ignore adjusting entries. 8 pt 4. What was the cash balance on July 31? 4. A$60.642 BO s68,525 cO s77.434 DO s87,500 EO s98875 Fe$111,729 pts. What were total equities on July 317 AO s478,245 BO s597,806 s747258 DO $334,072 EO S,167,590 FO $1,459,488