View Policies Current Attempt in Progress Wildhorse Co.opened on July 1, 2020. On July 31, the statement of financial position showed Cash 5,400, Accounts Receivable V1.600, Supplies 600. Equipment 5,900, Accounts Payable 3,800, Share Capital-Ordinary 5.600, and Retained Earning of 4,100 (amounts in thousands). During August, the following transactions occurred. 1. Collected V1.300 of accounts receivable. 2 Paid 3,000 cash on accounts payable. 3. Recognized revenue of V7,700, of which 2.300 is collected in cash and the balance is due in September 4. Purchased additional equipment for V2.500, paying V500 in cash and the balance on account 5. Paid salaries 2,700, rent for August 1.200, and advertising expenses V400. 6. Declared and paid V1.100 dividend. 7. Received 1,800 from Standard Bank-money borrowed on a note payable 8. Incurred utility expenses for month on account 360. lecrease in Assets,