On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the companys records that showed the following items.

Accounts payable$3,500 Accounts receivable 6,000 Cash 5,600 Computer equipment 6,200 Furniture 5,800 Breanne Allarie, capital, June 30, 2023* 23,400 Office rent expense 6,500 Owners investments during July 2023 5,200 Owners withdrawals 5,000 Supplies 2,880 Textbook rental revenue 700 Tutoring revenue 8,200 Tutors wages expense 1,940 Utilities expense 1,080 *Hint: The ending capital balance for one period is the beginning capital balance for the next period.

Prepare a July 31 balance sheet for Academic Learning Services.

Analysis Component: Identify how much of the assets held by Academic Learning Services are financed by debt.

On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31. 2023. Breanne Allarie, the owner, finalize the company's records that showed the following items. *Hint: The ending capital balance for one period is the beginning capital balance for the next period. Prepare a July 31 balance sheet for Academic Learning Services. Analysis Component : Identify how much of the assets held by Academic Learning Services are financed by debt