> education.wiley.com @ 5 + me Page - 2023 Spring Term.. T Top Hat | Checkout - Cart Details P Course Home WP Chapter 1 WP NWP Assessment Player UI Ap. Screenshot 2022-03-26 16 Chapter 1 Question 1 of 1 10.75 / 100 ... Linda Williams opened a law office on July 1, 2022. On July 31, the balance sheet showed Cash $5,600, Accounts Receivable $1,500, Supplies $500, Equipment $6,400, Accounts Payable $3,500, and Owner's Capital $10,500. During August, the following transactions occurred. Collected $ 1,200 of accounts receivable. Paid $2,400 cash on accounts payable Recognized revenue of $7,100 of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment for $1,900, paying $400 in cash and the balance on account. Paid salaries $2,500, rent for August $1,000, and advertising expenses $400 Withdrew $700 in cash for personal use. Received $1,900 from Standard Federal Bank-money borrowed on a note payable Incurred utility expenses for month on account $230 To Your answer is partially correct. 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. I INDA WILLIAMS AT MacBook Air * OO