On April 1 of the currenk year, Morgan Jones established a business to manage rental property, She completed the following transactions during Aprif: 0. Opened a business bank account with a deposit of $48,000 in exchange for cernmon stock. b. Purchased office supplies on account, $2,020. c. Receiyed cash from tess tarned for managing rental property, $5,460. d. Paid rent on office and squipment for the month; $2;480. e. Paid creditors on account, $920. f, Eliled customers for fees earned for managing rental property, 54,590 . 9. Paid automobile expentes for month, $550, and miscellaneous expenses, 4280 . h. Paid office salaries, $1,749. 1. Determined that the cost of supplies on hand was $1,190; therefore; the cost of supplies used was $630. 5. Paid diridesids; 11,650 , Requiredt 1. Indicate the effect of each transaction and the balances after-each transaction: For those bores in which no entrr is required, leave the box blank. Far those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300) and revenues and by dividends and expenses. Dy rssuing cornmon seock 3. Determine the net income for April. 4. How much did April's transactions increase: or decrease stockholders' equity? On April 1 of the currenk year, Morgan Jones established a business to manage rental property, She completed the following transactions during Aprif: 0. Opened a business bank account with a deposit of $48,000 in exchange for cernmon stock. b. Purchased office supplies on account, $2,020. c. Receiyed cash from tess tarned for managing rental property, $5,460. d. Paid rent on office and squipment for the month; $2;480. e. Paid creditors on account, $920. f, Eliled customers for fees earned for managing rental property, 54,590 . 9. Paid automobile expentes for month, $550, and miscellaneous expenses, 4280 . h. Paid office salaries, $1,749. 1. Determined that the cost of supplies on hand was $1,190; therefore; the cost of supplies used was $630. 5. Paid diridesids; 11,650 , Requiredt 1. Indicate the effect of each transaction and the balances after-each transaction: For those bores in which no entrr is required, leave the box blank. Far those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300) and revenues and by dividends and expenses. Dy rssuing cornmon seock 3. Determine the net income for April. 4. How much did April's transactions increase: or decrease stockholders' equity