X Company, a merchandiser, had the following transactions in August: 1. Borrowed $29,000 from a bank. 2. Bought equipment costing $9,400, paying the manufacturer $5,400 in cash and promising to pay the remaining $4,000 next month. 3. Paid utility expenses of $5,711. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,190. 7. If the balance in the cash account on August 1 was $39,065, what was the cash balance on August 31? Submit Answer Tries 0/3 8. If total equities on August 1 were $71,831, what were total equities on August 31? Submit Answer Tries 0/3