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On July 1, 20Y7, Pat Glenn established Half Moon Really. Pat completed the following transactions during the month of July: A. Opened a business bank account with a deposit of $25,000 from personal funds. B. Purchased office supplies on account, $1,850. C. Paid creditor on account, $1,200. D. Eamed sales commissions, receiving cash, $41,500. E. Paid rent on office and equipment for the month, $3,600. F. Withdrew cash for personal use, $4,000. G. Paid automobile expenses (including rental chatge) for the month, $3,050, and miscelianeous expenses, $1,600. H. Paid office salaries, $5,000. 1. Determined that the cost of supplies on hand was $950; therefore, the cost of supplies used was $900. Required: 1. Indicate the effect of each transaction and the balances affer each transaction, using the tabular headings in the exhibit below 1. Indicale the effect of each transaction and the baiances after each transaction, using the tabular headings in the exhioit below. In each transaction row (rows indicated by a lefter). you must indicate the math sign (+or -) in columns affected by the transaction. You will not need to enter math signs in the balance rows (rows indicated by Bal). Entries of 0 (zero) are not required and wil be cleared If enfered 2. Prepare an income stafement for July, a statementof owners equty for July, and a as of Juty 31, Bnsure to complete the statement hesding. Fefer to the ist of Accounts on the accounting equabion grid and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries

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