X Company, a merchandiser, had the following transactions in August: 1. Borrowed $25,000 from a bank. 2. Bought equipment costing $10,300, paying the manufacturer $5,400 in cash and promising to pay the remaining $4,900 next month. 3. Paid utility expenses of $5,855. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,800. 7. If the balance in the cash account on August 1 was $38,782, what was the cash balance on August 31 ? Tries 0/99 8. If total assets on August 1 were $71,010, what were total assets on August 31? Tries 0/99