On Apni 1 of the current year, Morgan Jones established a business to manage rental property, She completed the following transactions during April: a. Opened a business bank account with a deposit of $40,000 in exchange for common stock. b. Purchased office supplies on account, $2,690. c. Received cash from fees earried for managing rental property, $7,540, d. Paid rent on office and equipment for the month, $3,300. e. Paid creditors on account, $1,220. f. Balled customers for fees earned for managing rental property, $6,110. g. Paud automobile expenves for month, $730, and miscellaneous expenses, $370. h. Paid office salaries, $2,320. 1. Determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. 3. Paid dividends, $2,200. Requiredt 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 ign. (Example: -300 )