X Company, a merchandiser, had the following transactions in August: 1. Borrowed $21,000 from a bank. 2. Bought equipment costing $9,300, paying the manufacturer $5,200 in cash and promising to pay the remaining $4,100 next month. 3. Paid utility expenses of $5,646. 4. Purchased a $5,000, five-year insurance policy, paying for two years in advance. 5. Paid back a previous loan for $3,440. 7. If the balance in the cash account on August 1 was $38,684, what was the cash balance on August 31 ? C: $91,244 D: $132,304 Tries 0/99 8. If total assets on August 1 were $70,401, what were total assets on August 31 ? C: $86,415 Tries 0/99