Seth Feye established Reliance Financial Services on July 1, 2012. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets Accounts Liabilities Accounts Common +Stockholders' Equity Fees Salaries Rent Auto Supplies Misc. Cash Receivable +Supplies Payable +Stock Dividends +Eamed Expense Expense Expense Expense Expense a 50,000 +50,000 b. +7,000 +7,000 Bal. 50,000 7,000 7,000 50,000 C 3,600 -3,600 Bal 46,400 7,000 3,400 50,000 d. +110,000 +110,000 Bal 156,400 7,000 3,400 50,000 110,000 B. -33,000 33,000 Bal. 123,400 7,000 3,400 50,000 110,000 -33,000 -20,800 -16,000 4,800 Bal. 102,600 7,000 3,400 50,000 110.000 33,000 16,000 4,800 55,000 -55,000