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 $27,000 from personal funds. b. Purchased supplies (pens, file folders, and copy paper) on account, $3,370. c. Received cash from fees earned for managing rental property, $9,120. d. Paid rent on office and equipment for the month, $4,140 e. Paid creditors on account, $1,530 f. Billed customers for fees earned for managing rental property, $7,660. 9. Paid automobile expenses for month, $920, and miscellaneous expenses, $460. h. Paid office salaries, $2,910 l. Determined that the cost of supplies on hand was $1,990; therefore, the cost of supplies used was $1,380. . Withdrew cash for personal use, $2,760 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) Liabilities + Owner's Equit Accounts Accounts + Supplies Payable Maria Edsall, Capital Maria Edsall, Drawing Item Cash + Fees Earned Rent Expense Sal. Ex + . Bal Check My Work 1 more Check My Work uses remaining ment Score: 10.01% All work saved Save ar Ask me anything