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Maria Miller opened a law office on July 1, 2022. On July 31, the balance sheet showed Cash $5,000, Accounts Receivable $1,800, Supplies $400, Equipment $5.900, Accounts Payable $3,800, and Owner's Capital $9,300. During August, the following transactions occurred 1 2 3 4. Collected $1,500 of accounts receivable. Paid $2,800 cash on accounts payable Recognized revenue of $8,400 of which $2.500 is collected in cash and the balance is due in September Purchased additional equipment for $2,300. paying $500 in cash and the balance on account Paid salaries $1,900, rent for August $1,200, and advertising expenses $450. Withdrew $900 in cash for personal use. Received $1,000 from Standard Federal Bank-money borrowed on a note payable. 5. 6 7 8 Incurred utility expenses for month on account $230 Prepare a tabular analysis of the August transactions beginning with July 31 balances. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Accounts Receivable Cash Supplies Bal. $ $ $ 1 2. 4. 5. 6. 7. 8 Liabilities Equipment Notes Payable Accounts Payable Owner's Capital $ $ $ Owner's Equity Owner's Capital Owner's Drawings Revenues Expenses $ $ $ $ $