On June 1 of the current year, Maria Edsall established a business to manage rental property. She completed the following transactions during June a. Opened a business bank account with a deposit of $49,000 in exchange for capital stock. b. Purchased office supplies on account, $2,370 c. Received cash from fees eaned for managing rental property, $6,650 d. Paid rent on office and equipment for the month, $2,910. e. Paid creditors on account, $1,080 r. Billed customers for fees earned for managing rental property, $5,390. g. Paid automobile expenses for month, $650, and miscellaneous expenses, $320. h. Paid office salaries, $2,0S0 i. Determined that the cost of supplies on hand was $1,400; therefore, the cost of supplies used was $970 j. Paid dividends $1,940 Required: 1. Indicate the effect of each transaction and 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)