Timer Notes Evaluate Feedback P Questions 7 & 8 refer to the following information: X Company, a merchandiser, had the following transactions in August: 1. Borrowed $24,000 from a bank. 2. Bought equipment costing $10,400, paying the manufacturer $5,400 in cash and promising to pay the remaining $5,000 next month. 3. Paid utility expenses of $5,200. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,230. 7. If total liabilities on August 1 were $33,104, what were total liabilities on August 31? OA: $43,008 OB: $50,320 OC: $58,874 OD: $68,883 OE: $80,593 OF: $94,293 Submit Answer Tries 0/99 8. If total assets on August 1 were $72,766, what were total assets on August 31? OA: $57,245 OB: $64,687 OC: $73,096 OD: $82,598 OE: $93,336 OF: $105,470 Submit Answer Tries 0/99 Communication Blocked Send Feedback