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Aug 3 5 6 7 12 14 On July 31, 2017, the general ledger of Matlock Inc. showed the following balances Cash 83.200. Accounts Receivable $1.200 Supplies 5400. Equipment $4,000. Accounts Payable 53.280. Common Stock $2.800 and Retained Earnings 52.720. During August, the following transactions occurred. Collected $960 of accounts receivable due from customers Received $1,040 cash for issuing common stock to new investors Paid $2.160 cash on accounts payable Performed legat services of $5.200, of which 52.400 was collected in cash and the remainder was due on account Purchased additional equipment for $950, paying $320 in cash and the balance on account Paid salaries 32.800 rent $720, and advertising expenses 5220 for the month of August. Collected the balance for the services performed on August 7. Paid dividends of 5400 to stockholders Billed a client $800 for legal services performed Received $1.600 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 $3,600. The client will pay the amount owing after the services have been performed Received the utility bill for the month of August in the amount of $220: It is not due until September 15. Paid income tax for the month $400. 18 20 24 26 28 31 apter 3 Assignment Question 8 of 8 Accounts Rece Supos Equipment Accounts Payable

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