Questions 7, 8, and 9 refer to the following information: X Company, a merchandiser, had the following transactions in Augus

t: Borrowed $30,000 from a bank.

Bought equipment costing $9,500, paying the manufacturer $5,400 in cash and promising to pay the remaining $4,100 next month

. Paid a utility bill for $5,893. Purchased a $6,000, five-year insurance policy, paying for two years in advance.

Received $2,074 from customers for merchandise that had to be ordered and would be delivered next month.

Paid back a previous loan for $3,880.

7. If the balance in the cash account on August 1 was $37,130, what was the balance on August 31? Tries 0/3

8. If total assets on August 1 were $74,567, what were total assets on August 31? Tries 0/3

9. If total liabilitiess on August 1 were $34,232, what were total liabilities on August 31?