Explain the attached screenshot by providing the correct figures. August 1, 2019 totals August 3, borrowed $50,000

Explain the attached screenshot by providing the correct figures.

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August 1, 2019 totals August 3, borrowed $50,000 in cash from the bank New totals August 7, bought merchandise inventory valued at $75,000 on account New totals August 10, paid $25,000 cash for operating expenses New totals August 14, received $120,000 in cash from sales of merchandise that had cost $72,000 New totals August 17, paid $60,000 owed on accounts payable New totals August 21, collected $44,000 of accounts receivable New totals August 24, repaid $30,000 to the bank, plus $1,000 interest New totals August 29, paid Rudy Gandolfi a cash dividend of $15,000 August 31, 2019 totals $ 700,000 50,000 $ 750,000 75,000 $ 825,000 (25,000) $ 800,000 120,000 (72,000) 848,000 (60,000) 788,000 $ $ $ $ Assets $ 788,000 (31,000) 757,000 (15,000) 742,000 = Liabilities $ 500,000 50,000 $ 550,000 75,000 $ 625,000 (25,000) 600,000 0 $ 600,000 (60,000) $ 540,000 44,000 $ 584,000 (30,000) 554,000 (15,000) $ 539,000 $ + $ $ $ $ $ $ $ $ Equity 200,000 0 220,000 0 200,000 0 200,000 120,000 (72,000) 248,000 248,000 0 248,000 1,000 249,000 $ 249,000 August 1, 2019 totals August 3, borrowed $50,000 in cash from the bank New totals August 7, bought merchandise inventory valued at $75,000 on account New totals August 10, paid $25,000 cash for operating expenses New totals August 14, received $120,000 in cash from sales of merchandise that had cost $72,000 New totals August 17, paid $60,000 owed on accounts payable New totals August 21, collected $44,000 of accounts receivable New totals August 24, repaid $30,000 to the bank, plus $1,000 interest New totals August 29, paid Rudy Gandolfi a cash dividend of $15,000 August 31, 2019 totals $ 700,000 50,000 $ 750,000 75,000 $ 825,000 (25,000) $ 800,000 120,000 (72,000) 848,000 (60,000) 788,000 $ $ $ $ Assets $ 788,000 (31,000) 757,000 (15,000) 742,000 = Liabilities $ 500,000 50,000 $ 550,000 75,000 $ 625,000 (25,000) 600,000 0 $ 600,000 (60,000) $ 540,000 44,000 $ 584,000 (30,000) 554,000 (15,000) $ 539,000 $ + $ $ $ $ $ $ $ $ Equity 200,000 0 220,000 0 200,000 0 200,000 120,000 (72,000) 248,000 248,000 0 248,000 1,000 249,000 $ 249,000

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Description Payment of Cash will reduce the assets August 10 and on the other si... View the full answer