On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June: a. Opened a business bank account with a deposit of $40,000 from personal funds. b. Purchased office supplies on account, $1,830. c. Received cash from fees earned for managing rental property, $5,210. d. Paid rent on office and equipment for the month, $2,250. e. Paid creditors on account, $830. f. Billed customers for fees earned for managing rental property, $4,170. 9. Paid automobile expenses (including rental charges) for the month, $500, and miscellaneous expenses, $250. h. Paid office salaries, $1,580. 1. Determined that the cost of supplies on hand was $1,080; therefore, the cost of supplies used was $750. J. Withdrew cash for personal use, $1,500. 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 ) 2. Oncers squity is the right of owhen to the assets of be busneid. These righas a 3. Determine the net incente tor sure