On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June:

1. Opened abusinessbank account with a deposit of $55,000 from personal funds.
2. Purchased office supplies on account, $3,300.
3. Received cash fromfees earnedfor managing rental property, $18,300.
4. Paid rent on office and equipment for the month, $8,300.
5. Paid creditors on account, $2,290.
6. Billed customers for fees earned for managing rental property, $30,800.
7. Paid automobileexpenses(including rental charges) for the month, $1,380, and miscellaneous expenses, $1,800.
8. Paid office salaries, $7,300.
9. Determined that the cost of supplies on hand was $1,250; therefore, the cost of supplies used was $2,050.
10. Withdrew cash for personal use, $13,800.

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)