Questions 7&8 refer to the following information: X Company, a merchandiser, had the following transactions in August: 1. Borrowed $28,000 from a bank. 2. Bought equipment costing $9,800, paying the manufacturer $5,200 in cash and promising to pay the remaining $4,600 next month. 3. Paid utility expenses of $5,390. 4. Purchased a $5,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,510. 7. If the balance in the cash account on August 1 was $36,893, what was the cash balance on August 31 ? [ Tries 0/99 8. If total assets on August 1 were $73,386, what were total assets on August 31 ? [C:$121,358Tries0/99 Tries 0/99