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On July 1, 20Y7, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July: A. Opened a business bank

On July 1, 20Y7, 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 $20,000 from personal funds.
B. Purchased office supplies on account, $1,800.
C. Paid creditor on account, $1,350.
D. Earned sales commissions, receiving cash, $40,000.
E. Paid rent on office and equipment for the month, $3,300.
F. Withdrew cash for personal use, $3,600.
G. Paid automobile expenses (including rental charge) for month, $3,050, and miscellaneous expenses, $1,600.
H. Paid office salaries, $3,500.
I. Determined that the cost of supplies on hand was $850; therefore, the cost of supplies used was $950.

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income statement

statement of owners equity

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