Susan Crawford created a corporation providing legal services.

Susan Crawford created a corporation providing legal services, Susan Crawford Inc., on July 1, 2027. On July 31 the balance sheet showed Cash $3,760, Accounts Receivable $2,350, Supplies $470, Equipment $4,700, Accounts Payable $3,948, Common Stock $5,828, and Retained Earnings $1,504. During August, the following transactions occurred. Aug. 1 Collected $1,034 of accounts receivable due from customers. 4 Paid $2,538 cash for accounts payable due. 9 Performed services worth $5,076, of which $3,384 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $3,760, paying $658 in cash and the balance on account. 19 Paid salaries $1,316, rent for August $658, and advertising expenses $329. 23 Paid a cash dividend of $658. 26 Borrowed $4,700 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $360. Susan Crawford created a corporation providing legal services, Susan Crawford Inc., on July 1, 2027. On July 31 the balance sheet showed Cash $3,760, Accounts Receivable $2,350, Supplies $470, Equipment $4,700, Accounts Payable $3,948, Common Stock $5,828, and Retained Earnings $1,504. During August, the following transactions occurred. Aug. 1 Collected $1,034 of accounts receivable due from customers. 4 Paid $2,538 cash for accounts payable due. 9 Performed services worth $5,076, of which $3,384 is collected in cash and the balance is due in September. 15 Purchased additional office equipment for $3,760, paying $658 in cash and the balance on account. 19 Paid salaries $1,316, rent for August $658, and advertising expenses $329. 23 Paid a cash dividend of $658. 26 Borrowed $4,700 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $360