eBook Show Me How Calculator Transactions On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the fe a. Opened a business bank account with a deposit of $30,000 from personal funds. b. Purchased office supplies on account, $1,800. c. Received cash from fees earned for managing rental property, $5,050. d. Paid rent on office and equipment for the month, $2,210. e. Paid creditors on account, $820. f. Billed customers for fees earned for managing rental property, $4,090. 9. Paid automobile expenses (including rental charges) for the month, $490, and miscellaneous expenses, $250. h. Paid office salaries, $1,550. 1. Determined that the cost of supplies on hand was $1,060; therefore, the cost of supplies used was $740. j. Withdrew cash for personal use. $1,470. 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) Assets - Liabilities + Item Cash + Accounts Receivable + Supplies = Fe Accounts Payable Chad Wilson, Capital - Chad Wilson, Drawing Earn Check My Work 3 more Check My Work uses remaining