The Slidell Auto Supply Company entered into the following transactions during the month of July:

Date Transaction 7/\ Joan Slidell, the owner, deposited $10,000 in the company’s checking account.

7/\1 Slidell Auto Supply purchased $800 of office supplies from Jips Paper Company, agreeing to pay for half of the supplies on July 31 and the rest of the supplies on August 15.

7/16 Slidell Auto Supply purchased a three-year fire insurance policy on a building owned by the company, paying $600 cash.

7/31 __ Slidell Auto Supply paid Jips Paper Company half the amount owed for the supplies purchased on July II.

Required: Using the basic accounting equation that we presented in this chapter, record the preceding transactions. Use subheadings for the specific kinds of assets, liabilities, and owner’s equity. Set up your answer in the following form:

Date Assets = Liabilities a Owner's Equity:  lo7