On July 1, 2016, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July.

A.	Opened a business An organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services (outputs) to customers. 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.	Earned sales The total amount charged customers for merchandise sold, including cash sales and sales on account. 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 Assets used up or services consumed in the process of generating revenues. (including rental charge) for month, $3,050, and miscellaneous expenses, $1,600.
H.	Paid office salaries, $5,000.
I.	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 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.

Assets		= Liabilities +	Owners Equity
			Pat	Pat
		Accounts	Glenn,	Glenn,	Sales	Salaries	Rent	Auto	Supplies	Miscellaneous
Cash	+ Supplies	= Payable	+ Capital	- Drawing	+ Commissions	- Expense	- Expense	- Expense	- Expense	- Expense

2. Prepare an income statement A summary of the revenues and expenses for a specific time period, such as a month or a year. for July, a statement of owners equity A summary of the changes in owners equity that have occurred during a specific time period, such as a month or a year. for July, a balance sheet A list of the assets, liabilities and owners equity as of a specific date, usually at the close of the last day of the month or a year. as of July 31. Refer to the list of Accounts Financial statement items that a business keeps track of in terms of increases, decreases, and running balances. on the accounting equation grid and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss has been incurred, enter that amount as a negative number using a minus sign. You will not need to enter colons (:) on the statements.