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 $5,000 in cash and promising to pay the remaining $4,900 next month. 3. Paid utility expenses of $5,599. 4. Purchased a $5,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,490. 7. If the balance in the cash account on August 1 was $37,607, what was the cash balance on August 31 ? C Tries 0/99 8. If total equities on August 1 were $70,031, what were total equities on August 31 ? D: $92,842 Tries 0/99