A.pdf OBJ. 4 - Describe and illustrate how business transactions can be recorded in terms of the resultingchange in the elements of the accounting equation. On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June: a. Opened a business bank account with a deposit of $55,000 from personal funds. b. Purchased office supplies on account, $3,300. c. Received cash from foes eamed for managing rental property. $18,300. d. Paid rent on office and equipment for the month, $8,300. e. Paid creditors on account, $2.290. 1. Billed customers for fees camed for managing rental property, $30.800. g. Paid automobile expenses (including rental charges) for the month $1,380, and miscellaneous expenses. $1,800. h. Pad office salaries. 57,300. i. Determined that the cost of supplies on hand was $1,250, therefore, the cost of supplies used was $2,050. 1 Withdrew cash for personal use. $13,800, Instructions Indicate the set of gach transaction and the balancos after each transaction using the following tabular headings me et de 13501000 100 1018