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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

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, $2,100.
C. Paid creditor on account, $1,200.
D. Earned sales commissions, receiving cash, $38,000.
E. Paid rent on office and equipment for the month, $2,400.
F. Withdrew cash for personal use, $3,700.
G. Paid automobile expenses (including rental charge) for month, $3,200, and miscellaneous expenses, $1,700.
H. Paid office salaries, $4,100.
I. Determined that the cost of supplies on hand was $1,000; therefore, the cost of supplies used was $1,100.
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
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