Transactions, Finandal Statements On July 1, 2017, 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 $24,000 from personal funds. b. Purchased office supplies on account, $2,450. c Paid creditor on account, $1,550. d. Eamed sales commissions, receiving cash, $25,030. e Paid rent on office and equipment for the month, $4,910. 1. Withdrew cash for personal use, $8,000. 9. Paid automobile expenses (including rental charge) for the month, $2,350, and miscellaneous expenses, $1,130. h. Pald office salaries, $2,950. Determined that the cost of supplies on hand was $830; therefore, the cost of supplies used was $1,620. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. 1