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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

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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 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 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 (including rental charge) for the month, $3,050, and miscellaneous expenses, $1,600. H. Paid office salaries, $5,000. 1. Determined that the cost of supplies on hand was $950; therefore, the cost of supplies used was $900. Accounts Glenn, Glenn, Sales Salaries Rent Auto Supplies Miscellaneous Cash = Payable - Expense Supplies Capital Drawing Commissions Expense Expense Expense Expense 2. Prepare an income statement for July, a statement of owner's equity for July, and a balance sheet as of July 31. Refer to the list of Accounts 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

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