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Instructions On July 1, 2017, Pat Glenn established Half Moon Realty Pat completed the following transactions during the month of July A. Opened a
Instructions On July 1, 2017, 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 $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 charge) for the month, $3,050, and miscellaneous expenses, $1,000 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 after each transaction, using the tabular headings in the exhibit below. In each transaction row (rows indicated by a letter), you must indicate the math sign (+ or -) in columns affected by the transaction. You will not i need to enter math signs in the balance rows (rows indicated by Bal.) Entries of 0 (zero) are not required and will be cleared if entered
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