PR 1-4A Transactions; Financial Statements OBJ. 4, OBJ.5 On July 1, 20Y7, 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 $25,000 from personal funds. b. Purchased office supplies on account, $1,850. c. Paid creditor on account, $1,200. d. Earned sales commissions, receiving cash, $41,500. e. Paid rent on office and equipment for the month, $3,600. f. Withdrew cash for personal use, $4,000. g. Paid automobile expenses (including rental charge) for the month, $3,050, and miscellaneous expenses, $1,600. h. Paid office salaries, $5,000. i. Determined that the cost of supplies on hand was $950; therefore, the cost of supplies used was $900. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: Assets Liabilities + Owner's Equity Accounts Pat Glenn Pat Glenn, Salanes Pent Cash Supplies Payable + Capital Drawing Sales Supplies Commissions Expense-Expense-Expense - Expense - Expense Auto MIC 2. Prepare an income statement for July, a statement of owner's equity for July, and a balance sheet as of July 31