Question 5 View Policies Current Attempt in Progress On July 31, 2022, the general ledger of Blossom Legal Services Inc. showed the following balances: Cash $3,840, Accounts Receivable $1.440. Supplies $480. Equipment 54,800, Accounts Payable $3.940. Common Stock $3,360, and Retained Earnings $3.260. During August, the following transactions occurred. Aug 3 Collected $1,150 of accounts receivable due from customers. 5 Received $1.250 cash for issuing common stock to new investors 6 Paid $2,590 cash on accounts payable. 7 Performed legal services of $6.240, of which $2,880 was collected in cash and the remainder was due on account. 12 Purchased additional equipment for $1.150, paying $380 in cash and the balance on account. 14 Paid salaries $3.360.rent $360, and advertising expenses $265 for the month of August. 18 Collected the balance for the services performed on August 7. 20 Paid cash dividend of $480 to stockholders. 24 Billed a client $960 for legal services performed. 26 Received $1.920 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 $4,320. 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 $265; it is not due until September 15. 31 Paid income tax for the month $480 (a) Using T-accounts, enter the beginning balances to the ledger. Cash July 31 Accounts Receivable Supplies . Equipment Accounts Payable Common Stock Retained Earnings Journalire the upust transactions to entry is required, select "No entry for the accountities and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not Date Account Titles and Explanation Debit Credit Post the August journal entries to the ledger. (Post entries in the order of information presented in the question Cash July 31 3,840 Accounts Receivable July 31 1,440 Supplies July 31 480 Prepare a trial balance on August 31, 2022 BLOSSOM LEGAL SERVICES INC. Trial Balance Debit Credit