X Company, a merchandiser, had the following transactions in August: 1. Borrowed $25,000 from a bank....

 

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X Company, a merchandiser, had the following transactions in August: 1. Borrowed $25,000 from a bank. 2. Bought equipment costing $10,500, paying the manufacturer $5,800 in cash and promising to pay the remaining $4,700 next month. 3. Paid utility expenses of $5,629. 4. Purchased a $6,000, five-year insurance policy, paying for two years in advance. 5. Paid back a previous loan for $3,280. 7. If the balance in the cash account on August 1 was $36,656, what was the cash balance on August 31? $44,547 You are correct. Previous Tries Your receipt no. is 154-3405 ? 8. If total equities on August 1 were $73,208, what were total equities on August 31? Submit Answer Incorrect. Tries 1/3 Previous Tries X Company, a merchandiser, had the following transactions in August: 1. Borrowed $25,000 from a bank. 2. Bought equipment costing $10,500, paying the manufacturer $5,800 in cash and promising to pay the remaining $4,700 next month. 3. Paid utility expenses of $5,629. 4. Purchased a $6,000, five-year insurance policy, paying for two years in advance. 5. Paid back a previous loan for $3,280. 7. If the balance in the cash account on August 1 was $36,656, what was the cash balance on August 31? $44,547 You are correct. Previous Tries Your receipt no. is 154-3405 ? 8. If total equities on August 1 were $73,208, what were total equities on August 31? Submit Answer Incorrect. Tries 1/3 Previous Tries