X Company, a merchandiser, had the following transactions in August: 1. Borrowed $28,000 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 $5,349. 4. Purchased a $5,000, five-year insurance policy, paying for two years in advance. 5. Paid back a previous loan for $3,210. 7. If total liabilities on August 1 were $30,057, what were total liabilities on August 31 ? Tries 0/99 8. If total equities on August 1 were $72,754, what were total equities on August 31