On July 1, 2019, 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 $24,000 from personal funds. B. Purchased office supplies on account, $2,200 C. Paid creditor on account, $1,250. D. Earned sales commissions, receiving cash, $42,000. E. Pald rent on office and equipment for the month, $3,500. F. Withdrew cash for personal use. $3,200. G. Pald automobile expenses (including rental charge) for month, $3,200, and miscellaneous expenses, $1,900. H. Paid office salaries, 54,400. Determined that the cost of supplies on hand was $800, therefore, the cost of supplies used was $1400, 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. Yd 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 cleare it entered Assets Llabilities + Owner's Equity Instruction Label and Amount Accounting Equation Grid Labels and Amount Descriptions Labels = Liabili Accour Expenses For the Month Ended July 31, 2019 July 31, 2019 Amount Descriptions Decrease in owner's equity Increase in owner's equity Investment on July 1, 2019 Withdrawals = Payab a b Ba Ba d Net income Net income for July Ba Net loss e Ba Net loss for July Pat Glenn, capital, July 1, 2019 Pat Glenn, capital, July 31, 2019 of Ba g. Bal. Check My Work Amount Descriptions Decrease in owner's equity Increase in owner's equity Investment on July 1, 2019 Withdrawals Net income a Net income for July Net loss Ba Net loss for July C Pat Glenn, capital, July 1, 2019 Ba d Pat Glenn, capital, July 31, 2019 Plus withdrawals Ba Total assets e Total expenses Ba Total liabilities and owner's equity f. Ba g Bal. Check My Work Assets Liabilities Pat Accounts Glenn, Cash + Supplies = Payable + Capital 2,200 2.200 X b Bal. 2.400 X 2,200 2,200 C Bal. d. OD Bal Bal 1. Bal 9 Bal Accounting Equation Grid Shaded cells have Owner's Equity Pat Glenn, Sales Salaries Rent - Drawing + Commissions - Expense - Expense