View Policies Current Attempt in Progress Bindy Crawford created a corporation providing legal services, Skysong, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,700; Accounts Receivable $6,450; Supplies $990; Equipment $8,950; Accounts Payable $8,150; Common Stock $11,850; and Retained Earnings $2,090. During August the following transactions occurred. ng port Collected $1,170 of accounts receivable due from customers. Aug. 1 Paid $2,730 cash for accounts payable due. Performed services worth $6,100, of which $3,500 is collected in cash and the balance is due in September. 15 Paid salaries $1,410, rent for August $730, and advertising expenses $340. 4 9 Purchased additional office equipment for $4,340, paying $5 10 in cash and the balance on account. 19 23 Paid a cash dividend of $780. 26 Borrowed $5,700 from American Federal Bank; the money was borrowed on a 4-month note payable. 31 Incurred utility expenses for the month on account $400. I (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in Retained Earnings. (if a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See illustration 3-4 for example. Post entries in the order presented in the question) Assets No Supplies Equipment Accounts Receivable Cash for the particular Asset, Liability or Equity item that was reduced. Seei Assets Cash Accounts Recelvable Supplies + Equipment No July 31 Bal. $ $ $ $ Aug. 1 4 9 15 19 23 26 31 $ $ $ $ eTextbook and Media SKYSONG, INC. Stockh Liabilities Retained Earnings Revenues Accounts Payable Common Stock Notes Payable + + + $ $ $ $ eTextbook and Media for the particular Asset, Liablity or Equity item that was reduced. See Illustration 3-4 for example. Post entries in the order presented in the question) Stockholders' Equity Retained Earnings Dividends Revenues Expenses + $ $ $ $ $ e Textbook and Media