=+1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings:

Assets  Liabilities  Owner’s Equity Lee Lee Office Equipment Accounts Accounts Chang, Chang, Fees Music Rent Rent Advertising Wages Utilities Supplies Misc.

Cash  Receivable Supplies  Payable  Capital  Drawing  Earned  Expense  Expense  Expense  Expense  Expense  Expense  Expense  Expense