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