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Transactions; Financial Statements On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July: Opened a

Transactions; Financial Statements

On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July:

  1. Opened a business bank account with a deposit of $33,000 from personal funds.
  2. Purchased office supplies on account, $3,360.
  3. Paid creditor on account, $2,130.
  4. Earned sales commissions, receiving cash, $34,320.
  5. Paid rent on office and equipment for the month, $6,730.
  6. Withdrew cash for personal use, $11,000.
  7. Paid automobile expenses (including rental charge) for the month, $3,230, and miscellaneous expenses, $1,540.
  8. Paid office salaries, $4,050.
  9. Determined that the cost of supplies on hand was $1,130; therefore, the cost of supplies used was $2,230.

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