x company, a merchandiser, had the following transactions in august: borrowed $22,000 from a bank. bought equipment costing $9,300, paying the manufacturer $5,100 in cash and promising to pay the remaining $4,200 next month. paid utility expenses of $5,236. purchased a $5,000, five-year insurance policy, paying for three years in advance. paid back a previous loan for $3,600. if the balance in the cash account on august 1 was $35,355, what was the cash balance on august 31?
