The Following Transactions Were Incurred During July Year 1:
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The following transactions were incurred during July Year 1:
July 1 $\quad$ The company raised $\$ 30,000$ by issuing a note to the bank for $\$ 15,000$ and issuing $\$ 15,000$ of common shares.

July 5 $\quad$ The company purchased $\$ 5,100$ of office supplies on credit; payment is due in: 30 days.

July 12 $\quad$ The company performed $\$ 18,000$ of services for customers on credit; collection is due in 30 days.

July 13 $\quad$ The company performed services for customers and collected $\$ 8,800$ .

July 20 $\quad$ The company paid for the supplies purchased on July 5 .

July 22 $\quad$ The company collected $\$ 15,000$ of the amounts due from customers.

July 30 $\quad$ The company received and paid the utility bill for the month of July in the amount of $\$ 640$ .

July 31 $\quad$ The company paid emplovee salaries of $\$ 3.800$ .
-Refer to H&R Clock Company.Use the following format to indicate the economic effects of each transaction above on the expanded accounting equation.Show the dollar amounts in the appropriate columns and use a plus (+)sign to indicate an increase and a minus (-)sign to indicate a decrease.