eBook Print Item Transactions; Financial Statements On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July: a. Opened a business bank account with a deposit of $34,000 from personal funds. b. Purchased office supplies on account, $3,470. c. Paid creditor on account, $2,190. d. Earned sales commissions, receiving cash, $35,390. e. Paid rent on office and equipment for the month, $6,940. f. Withdrew cash for personal use, $11,000. g. Paid automobile expenses (including rental charge) for the month, $3,330, and miscellaneous expenses, $1,590. h. Paid office salaries, $4,180. i. Determined that the cost of supplies on hand was $1,170; therefore, the cost of supplies used was $2,300. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers. Assets Liabilities + Owner's Equity Assets = Liabilities + Owner's Equity Accounts Pat Glenn, Cash + Supplies + Payable Capital Pat Glenn, Drawing Sales Commissions Office Rent Expense - Salaries Expense Auto Expense Supplies Expense Miscellaneous Expense 34,000 34,000 b. 3,470 3,470 Bal. 34,000 3,470 3,470 34,000 -2,190 31,810 < < -2,190 3,470 1,280 34,000 d. 35,390 35,390 Bal. 67,200 e. -6,940 Bal. 60,260 f. -11,000 Bal. 49,260 g. > > > 3,470 1,280 34,000 -6,940 3,470 1,280 34,000 35,390 -6,940 -11,000 3,470 1,280 34,000 -11,000 35,390 -6,940 -3,330 Bal. 44,340 3,470 1,280 34,000 -11,000 35,390 -6,940 -3,330 -1,590 h. -4,180 -4,180 Bal. 40,160 3,470 -2,300 1,280 34,000 -11,000 35,390 -6,940 -3,330 -1,590 -2,300 Bal. 40,160 1,170 1,280 34,000 -11,000 35,390 -6,940 -4,180 -3,330 -2,300 -1,590