a. Opened a business bank account with a deposit of $50,000 from personal funds. b. Purchased office supplies on account, $2,300.- c. Received cash from fees earned from providing services to clients. $12,000.- d. Paid rent on office for the month, $5,000.- e. Paid creditors on account, $1,200.- f. Billed customers for fees earned from providing services to clients, $10,300.- Paid cash for advertising expenses for the month, $1,200, and miscellaneous expense, $300.- h. Paid office salaries with cash, $2,400. plies on hand was $1,500, therefore the cost of supplies used i. Determined that the cost of was $800.- j. Withdrew cash for personal use, $3,000.- Indicate the effect of each transaction utilizing the spreadsheet. Compute balances at the end of the month. Determine the net income for the month. + ASSETS Accounts Receivable Supplies LIABILITIES Accounts Payable Sandoval, Capital Cash Sandoval, Drawing OWNER'S EQUITY Rent Salaries Expense Expense Fees Earned Supplies Expense Advertising Misc. Expense Expense (a) (b) (c) (d) (e) (f) TOTALS