W WiePLUS O PRETTYBOYFREDOT... A Transactions Trong B Course Content - 558 Documents - BSBA 22 Return to Blackboard Weber Recordings- A Tabu Anal.TR Help System Announcements (1 Unread) Grace Period: 6 days left Register Now PRINTER VERSION 4 BACK NEXT Problem 1-2A (Part Level Submission) Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,700, Supplies $500, Equipment $5,500, Accounts Payable $4,200, and Owner's Capital $8,700. During August, the following transactions occurred. 1. Collected $1,400 of accounts receivable. 2. Paid $2,900 cash on accounts payable. 3. Recognized revenue of $8,800, of which $2,700 is collected in cash and the balance is due in September Purchased additional equipment for $1,500, paying $400 in cash and the balance on account. S. Pald salaries $1,900, rent for August $1,200, and advertising expenses $300 6. Withdrew $700 in cash for personal use. 7. Received $1,400 from Standard Federal Bank-money borrowed on a note payable & incurred utility expenses for month on account $300. Prepare a tabular analysis of the August transactions beginning with July 31 balances (If a transaction results in a decrease in Assets, Liabilities or Owner's 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 Mustration 1-3 for example) JUDI SALEM, ATTORNEY AT LAW Assets Liabilities Owner's Equity Accounts Notes Accounts Owner's Owner's Cash Receivable Supplies Equipment Payable Payable Capital Drawings Revenues Expenses Bal 2