LO 4 E2-36B. (Learning Objective 4: Analyze the impact of business transactions on accounts) Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the following transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. a. Eric Newton opened a law firm by investing $23,000 cash and office furniture with a fair value of $9,400. Organized as a professional corporation, the business issued common stock to Newton. b. Paid monthly rent of $1,000. c. Purchased office supplies on account, $700 d. Paid employee salaries of $2,500 e. Paid $150 of the accounts payable created in transaction c f. Performed legal service on account, $10,900 g. Declared and paid dividends of $2,000