Yoy are given the following Transactions related to transactions occured in ABC company during August 2020: Aug. 1 ABC issues $70,000 shares of common stock for cash. ABC purchases barbering equipment for $45,000; $37,500 was paid immediately with cash, and the remaining $7,500 was billed to ABC Aug. 3 with payment due in 30 days. He decided to buy used equipment, because he was not sure if he truly wanted to run a barber shop. He assumed that he will replace the used equipment with new equipment within a couple of years. Aug. 6 ABC purchases supplies for $300 cash. Aug. 1 ABC provides S4,000 in services to a customer who asks to be billed 0 for the services. Aug. 1 ABC pays a $75 utility bill with cash. 3 Aug. 1 ABC receives $3,200 cash in advance from a customer for services not 4 yet rendered. Aug. 1 6 ABC distributed $150 cash in dividends to stockholders. Aug. 1 7 ABC receives $5,200 cash from a customer for services rendered. Aug. 1 ABC paid $2,000 toward the outstanding liability from the August 3 transaction. Aug. 2 2 ABC paid $4,600 cash in salaries expense to employees. 9 The customer from the August 10 transaction pays $1,500 cash toward ABC's account Aug 28 AL On August 31, ABC has the following transactions requiring adjustment. August 31 Transactions Date Transaction Aug. 3 ABC took an inventory of supplies and discovered that $250 of 1 supplies remain unused at the end of the month. Aug, 3 The equipment purchased on August 3 depreciated $2,500 during the 1 month of August Aug, 3 ABC performed $1,100 of services during August for the customer 1 from the August 14 transaction. er Aug. 3 1 Unpaid and previously unrecorded taxes expense for the month are $3,400. Aug 31 Services provided during August but haven't been recorded $350