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On August 1, 2018, Brooke Kilne established Western Realty. Brooke completed the following transactions during the month of August: a. Opened a business bank account

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On August 1, 2018, Brooke Kilne established Western Realty. Brooke completed the following transactions during the month of August: a. Opened a business bank account with a depost of $20,000 in exchange for common stock b. Purchased supplies on account, $2,010. Paid cred tor on account, $1,270 d. Earned sales commissions, receiving cath, $20.460. e. Pald rent on office and equipment for the month, $4,010. 1. Paid dividends, $6,000. g. Pald automobile expenses for month, $1,920, and miscellaneous expenses, $920. h. Pald office salaries, $2.410. 1. Determined that the cost of supplies on hand wat $680; therefore, the cost of supplies used was $1,330. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those bones in which no entry is required, leave the box blank. If required, enter negative value Assets Liabilities + Stockholders' Equity Accounts Common Sales Rent Cash Salaries Auto Supplies Dividends + Supplies Miscellaneous Payable Stock Commissions Expense Expense Expense Expense Expense 2. 20,000 b. 2,010 + + I Ba Bal d. + 0

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