X Company, a merchandiser, had the following transactions in August: 1. Borrowed $28,000 from a bank. 2. Bought equipment costing $10,100, paying the manufacturer $5,900 in cash and promising to pay the remaining $4,200 next month. 3. Paid utlity expenses of $5,206. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,060. 7. If the balance in the cash account on August 1 was $37,620, what was the cash balance on August 31 ? Tries 0/99 8. If total assets on August 1 were $71,203, what were total assets on August 31 ? Tries 0/99