X Company, a merchandiser, had the following transactions in August: 1. Borrowed $27,000 from a bank. 2. Bought equipment costing $9,900, paying the manufacturer $5,100 in cash and promising to pay the remaining $4,800 next month. 3. Paid utility expenses of $5,574. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,940. 7. If total liabilities on August 1 were $31,429, what were total liabilities on August 31 ? Tries 0/99