On July $31,2025,$ the general ledger of Crane Legal Services Inc. showed the following balances: Cash $$3,920,$ Accounts Receivable

$$1,470,$ Supplies $$490,$ Equipment $$4,900,$ Accounts Payable $$4,020,$ Common Stock $$3,430,$ and Retained Earnings $$3,330.$ During

August, the following transactions occurred.

Aug. $3$ Collected $$1,180$ of accounts receivable due from customers.

$5$ Received $$1,270$ cash for issuing common stock to new investors.

$6$ Paid $$2,650$ cash on accounts payable.

$7$ Performed legal services of $$6,370,$ of which $$2,940$ was collected in cash and the remainder was due on account.

$12$ Purchased additional equipment for $$1,180,$ paying $$390$ in cash and the balance on account.

$14$ Paid salaries $$3,430,$ rent $$880,$ and advertising expenses $$270$ for the month of August.

$18$ Collected the balance for the services performed on August $7.$

$20$ Paid cash dividend of $$490$ to stockholders.

$24$ Billed a client $$980$ for legal services performed.

$26$ Received $$1,960$ from Laurentian Bank; the money was borrowed on a bank note payable that is due in $6$ months.

$27$ Agreed to perform legal services for a client in September for $$4,410.$ The client will pay the amount owing after the

services have been performed.

$28$ Received the utility bill for the month of August in the amount of $$270$; it is not due until September $15.$

$31$ Paid income tax for the month $$490.$ Post the August journal entries to the ledger and determine month$-$end balances. $($Post entries in the order of journal entries

presented in the previous part.$)$ Accounts Payable Question $5$ of $5$

Service Revenue Salaries and Wages ExpenseOn July $31,2025,$ the general ledger of Crane Legal Services Inc. showed the following balances: Cash $$3,920,$ Accounts Receivable

$$1,470,$ Supplies $$490,$ Equipment $$4,900,$ Accounts Payable $$4,020,$ Common Stock $$3,430,$ and Retained Earnings $$3,330.$ During

August, the following transactions occurred.

Aug. $3$ Collected $$1,180$ of accounts receivable due from customers.

$5$ Received $$1,270$ cash for issuing common stock to new investors.

$6$ Paid $$2,650$ cash on accounts payable.

$7$ Performed legal services of $$6,370,$ of which $$2,940$ was collected in cash and the remainder was due on account.

$12$ Purchased additional equipment for $$1,180,$ paying $$390$ in cash and the balance on account.

$14$ Paid salaries $$3,430,$ rent $$880,$ and advertising expenses $$270$ for the month of August.

$18$ Collected the balance for the services performed on August $7.$

$20$ Paid cash dividend of $$490$ to stockholders.

$24$ Billed a client $$980$ for legal services performed.

$26$ Received $$1,960$ from Laurentian Bank; the money was borrowed on a bank note payable that is due in $6$ months.

$27$ Agreed to perform legal services for a client in September for $$4,410.$ The client will pay the amount owing after the

services have been performed.

$28$ Received the utility bill for the month of August in the amount of $$270$; it is not due until September $15.$

$31$ Paid income tax for the month $$490.$