Use the facts in Exercise 1-11 to prepare a July 31 balance sheet for Windsor Learning Services, similar to Exhibit 1.10.
In exercise 1-11

Analysis Component: Identify how much of the assets held by Windsor Learning Services are financed by debt.

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S1,500 2,000 1,600 2,200 1,800 Owner's investments during Accounts payable Accounts receivable Cash Computer equipment2 Furniture Milton Windsor, capital,.... July 2014 Owner's withdrawals Supplies 1,200 1,000 1,280 300 4,200 Tutors' wages expense1,540 680 Tutoring fees earned June 30, 2014" Office rent expense 7,400 2,500 Utilities expense