X Company, a merchandiser, had the following transactions in August: . Borrowed $20,000 from a bank. . Bought equipment costing $9,800, paying the manufacturer $5,300 in cash and promising to pay the remaining $4,500 next month. . Paid a utility bill for $5,063. . Purchased a $5,000, five-year insurance policy, paying for three years in advance. . Received $2,043 from customers for merchandise that had to be ordered and would be delivered next month. Paid back a previous loan for $3,060. P'mthl-A 7. If the balance in the cash account on August 1 was $39,832, what was the balance on August 31? Submit Answer Tries 0/3 8. If total assets on August 1 were $74,947, what were total assets on August 31? Submit Answer Tries 0/3 9. If total liabilitiess on August 1 were $30,955, what were total liabilities on August 31? Submit Answer Tries 0/3