On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31,...

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On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. Accounts payable Accounts receivable $ 2,600 4,200 Cash 3,800 Computer equipment 4,400 Furniture 4,000 Breanne Allarie, capital, June 30, 2023* 16,200 Office rent expense 4,700 Owner's investments during July 2023 3,400 3,200 2,160 520 Tutoring revenue 6,400 1,760 900 Owner's withdrawals Supplies Textbook rental revenue Tutors' wages expense Utilities expense "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. Assets ACADEMIC LEARNING SERVICES Balance Sheet July 31, 2023 Liabilities Equity Total assets $ 0 Total liabilities and equity $ 0 Analysis Component: Identify how much of the assets held by Academic Learning Services are financed by debt. Amount of assets financed by debt On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the company's records that showed the following items. Accounts payable Accounts receivable $ 2,600 4,200 Cash 3,800 Computer equipment 4,400 Furniture 4,000 Breanne Allarie, capital, June 30, 2023* 16,200 Office rent expense 4,700 Owner's investments during July 2023 3,400 3,200 2,160 520 Tutoring revenue 6,400 1,760 900 Owner's withdrawals Supplies Textbook rental revenue Tutors' wages expense Utilities expense "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. Assets ACADEMIC LEARNING SERVICES Balance Sheet July 31, 2023 Liabilities Equity Total assets $ 0 Total liabilities and equity $ 0 Analysis Component: Identify how much of the assets held by Academic Learning Services are financed by debt. Amount of assets financed by debt