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

1. Opened a business bank account with a deposit of $28,000 in exchange for common stock.
2. Purchased office supplies on account, $3,080.
3. Received cash from fees earned for managing rental property, $8,530.
4. Paid rent on office and equipment for the month, $3,770.
5. Paid creditors on account, $1,400.
6. Billed customers for fees earned for managing rental property, $6,990.
7. Paid automobile expenses for month, $840, and miscellaneous expenses, $420.
8. Paid office salaries, $2,660.
9. Determined that the cost of supplies on hand was $1,820; therefore, the cost of supplies used was $1,260.
10. Paid dividends, $2,520.