On June 1 of the current year, Chris Bates established a business to manage rental property. The following transactions were completed during June: Opened a business bank account with a deposit of $44,000 in exchange for common stock. Purchased office supplies on account, $2,950. Received cash from fees earned for managing rental property, $8,370. Paid rent on office and equipment for the month, $3,620. Paid creditors on account, $1,340. Billed customers for fees earned for managing rental property, $6,700. Paid automobile expenses for month, $800, and miscellaneous expenses, $400. Paid office salaries, $2,550. Determined that the cost of supplies on hand was $1,740; therefore, the cost of supplies used was $1,210. Paid dividends, $2,410