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On August 1, 20Y9, Brooke Kline established Western Reality. Brooke completed the following transactions during the month of August: a. Opened a basiness bank account

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On August 1, 20Y9, Brooke Kline established Western Reality. Brooke completed the following transactions during the month of August: a. Opened a basiness bank account with a deposit of $20,000 in exchange for common stock. b. Paid rent on office and equipment for the month, $3,200. c. Paid automobile expenses for month, $1,450, and miscellaneous expenses, $700. d. Purchased ollice supplies on account, $1,350. e. Earned sales commissions, receiving cash, $20,600. t. Paid creditor on account, $750. g. Paid office salaries, $2,600. h. Paid dividends, $4,000. i. Determined that the cost of supplies on hand was \$500; therefore, the cost of supplies used was \$850. Required: 1. Indicate the effoct of each transaction and the balances after each transaction, using the following tabutar headings: 2. a. Prepare an for August. 2. b. Prepare a statement of stockholders' equity for August. 2. c. Prepare a balance sheet as of August 31

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