An analysis of the transactions made by K. T. Lang & Co., a law firm, for the month of July is shown below. 
Instructions
Prepare a statement of financial position at July 31, 2014.
Definitions:
Cash Control Sheet
A financial document used to record and monitor cash transactions within a business.
Credit and Debit Card Payments
Electronic payment methods where credit cards borrow funds from the issuing bank to make a purchase, while debit cards deduct money directly from the cardholder's bank account.
Manual Recording
The process of documenting information by hand, as opposed to using electronic means.
Debit Sheet
A record listing all debit transactions, often used in accounting to monitor expenditures.
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