on April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April:

a. Open a business bank account with a deposit of $38,000 in exchange for common stock.

b. purchased office supplies on account, $3050

c. receive cash from fees earned for managing rental property, $8360

d. paid rent on office and equipment for the month, $3750

e. Pay creditors on account, $1390

f. billed customers for fees earned for managing rental property, $6940

g. paid automobile expenses for month, $830, and miscellanepus expenses, $420

h. paid office salary, $2640

I. determined that the cost of supplies on hand was $1800; therefore, the cost of supplies used was $1250.

j. paid dividends, $2500.

REQUIRED

1. indicate the effect of each transaction in 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)