On Apnl t of the current year, Morpan Jones established a business to manape rental property. She completed the following transactions during April: a. Opened a business bark account with a deposit of $44,000 in exchange for common stock. b. Purchased office supplies on account, $2,590 c. Received cash from fees earned for managing rental property, $7,280. d. Paid rent on office and equipment for the month, $3,190. e. Paid creditors on account, $1,180. f. Bilied customers for fees earned for managing rental property, $5,900 g. Paid automobile expenses for month, $710, and miscellaneous expenses, $350 : h. Paid office salaries, $2,240. 1. Determined that the cost of supplies on hand was $1,530; therefore, the cost of supplies used was $1,060. 5. Paid dividends, $2,120. 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 bax blank. by dividends and expenses