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Transactions On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April: a. Opened a business bank account with a deposit of $36,000 in exchange for common stock b. Purchased office supplies on account, $3,450. c. Received cash from fees earned for managing rental property, 9,330 d. Paid rent on office and equipment for the month, $4,230. e. Paid creditors on account, $1,570. 1. Billed customers for fees earned for managing rental property, $7,840 9. Paid automobile expenses for month, $940, and miscellaneous expenses, $470. h. Paid office salaries, $2.980. Determined that the cost of supplies on hand was $2,040, therefore, the cost of supplies used was $1,410. 3. Paid dividends, 52,820. 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. For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300) Atte Lab Item Cash + Account Account Receivable Supplies Common Stock - Dividends Fees Earned Stockholders Emily Rent Sat Expense Expense Supp Expense Auto Expense Misc. Expense Item Bal c no d. . Bal Bal BA al 0 5. h 1 tal 2. toho is the others are 1. Darmine there for on 2. Stockholders' mother of the lowest the the best. These rights we 3. Determine the bying contact and read - oy verden 4. How much dort and interest

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