the following transactions were completed during july, the second month of the business's operations. July 1. pat sharpe made an additional investment in ps music by depositing $4,000 in ps music's checking account. 1. instead of continuing to share office space with a local real estate agency, Pat decided to rent office space near a local music store. Paid rent for july, $1,800. 1. paid premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. 2. received $1,250 on account