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View Policies Current Attempt in Progress 4 Sarah Crawford created a corporation providing legal services, Sarah Crawford Inc, on July 1, 2022. On July 31 the balance sheet showed Cash $4,960, Accounts Receivable $3,100, Supplies $620, Equipment $6.200. Accounts Payable $5,206, Common Stock $7,688, and Retained Earnings $1.984. During August, the following transactions occurred. Aug. 1 Collected $1,364 of accounts receivable due from customers. Paid $3,348 cash for accounts payable due. 9 Performed services worth $6,696, of which 54.464 is collected in cash and the balance is due in September Purchased additional office equipment for $4,960, paying $868 in cash and the balance on account Paid salaries 51,736, rent for August $868, and advertising expenses $434. 23 Paid a cash dividend of $868. 26 Borrowed $6.200 from American Federal Bank the money was borrowed on a 4-month note payable 31 Incurred utility expenses for the month on account $480 15 19 Prepare a tabular analysis of the August transactions beginning with July 31 balances. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets. Liabilities or Stockholders' Equity place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Post entries in the order presented in the question) Prepare a tabular analysis of the August transactions beginnineith July 31 balances. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets Liabilities or Stockholders' Equity, ploce a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Post entries in the order presented in the question.) Assets Equ Cash Supplies Accounts Receivable 7/31 Bal Aug. 1 9 15 19 Prepare an income statement for August. SARAH CRAWFORD INC. Income Statement

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