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 $31,000 from personal funds. b. Purchased office supplies on account, $3,140 c. Paid creditor on account, $1,990. d. Earned sales commissions, receiving cash, $32,080 e. Paid rent on office and equipment for the month, $6,290. 1. Withdrew cash for personal use, $10,000 g. Paid automobile expenses (including rental charge) for the month, $3,020, and miscellaneous expenses, $1,440. h. Paid office salaries, $3,790. 1. Determined that the cost of supplies on hand was $1,060, therefore, the cost of supplies used was $2,080 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 requed, enter negative values as negative numbers Assets Owner's Equity Accounts Cash Supplies Pat Glenn, Pat Glenn Sales Rent Office Salaries ayable Capital Drawing Commissions Expense Expense + . b Bal C. Bal d. e. Bal. f Bal Bal, h Bal 1. Bal 2. Prepare an income statement for July Half Moon Realty Income Statement For the Month Ended Huly 31, 2017 Expenses Total expenses od 3. Prepare a statement of owner's equity for July. If an amount is zero, enter "0". Half Moon Realty Statement of Owner's Equity For the Month Ended July 31, 2017 4. Prepare a balance sheet as of July 31. Half Moon Realty Balance Sheet July 31, 2017 Assets 4. Prepare a balance sheet as of July 31. Half Moon Realty Balance Sheet July 31, 2017 Assets Total assets Liabilities Owner's Equity Total liabilities and owner's equity