Current Attempt in Progress

Lisa Anderson opened a law office on July $1,2022.$ On July $31,$ the balance sheet showed Cash $$5,800,$ Accounts Receivable $$1,600,$ Supplies $$600,$ Equipment $$5,500,$ Accounts Payable $$3,500,$ and Owner's Capital $$10,000.$ During August, the following transactions occurred.

Collected $$1,300$ of accounts receivable.

Paid $$2,700$ cash on accounts payable.

Recognized revenue of $$7,300$ of which $$1,500$ is collected in cash and the balance is due in September.

Purchased additional equipment for $$1,500,$ paying $$400$ in cash and the balance on account.

Paid salaries $$2,300,$ rent for August $$1,000,$ and advertising expenses $$350.$

Withdrew $$700$ in cash for personal use.

Received $$1,800$ from Standard Federal Bank$-$money borrowed on a note payable.

Incurred utility expenses for month on account $$180.$