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.

Required:

1.

Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below. In each transaction row (rows indicated by a letter), you must indicate the math sign (+ or -) in columns affected by the transaction. You will not need to enter math signs in the balance rows (rows indicated by Bal.). Entries of 0 (zero) are not required and will be cleared if entered.

Assets		= Liabilities +	Owners Equity
Cash	+ Supplies	= Accounts Payable	+ Pat Glenn, Capital	- Pat Glenn, Drawing	+ Sales Commissions	- Salaries Expense	- Rent Expense	- Auto Expense	- Supplies Expense	- Miscellaneous Expense

2. Prepare an income statement for July, a statement of owners equity for July, and a balance sheet as of July 31. Be sure to complete the statement heading. Refer to the list of Accounts on the accounting equation grid and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.