X Company, a merchandiser, had the following transactions in August: 1. Borrowed $20,000 from a bank. 2. Bought equipment costing $10,000, paying the manufacturer $5,700 in cash and promising to pay the remaining $4,300 next month. 3. Paid utility expenses of $5,473. 4. Purchased a $5,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,450. 7. If the balance in the cash account on August 1 was $35,070, what was the cash balance on August 31 ? Tries 0/99 8. If total equities on August 1 were $70,973, what were total equities on August 31