PR.01-04B

b. Paid rent cn office and equipment for the month, $3,600 c. Paid automot ie expenses for month, $1,350, and miscellaneous expenses, $600. d. Purchased supplies on account, $1.200. e. Earned sales commissions, receiving cash, $19,800 f. Paid creditor on account, $750 g. Paid office salaries, $2,500 h. Paid dividends, $3,500 L. Determined that the cost of supplies on hand was $300; therefore, the cost of on account, $,200 supplies used was $9o0. Required: 1. Indicate the effect of each transaction and the balances after each transection. For those baxes minus sign in which no entry is required, leave the box biank. If required, enter negative values as negative numbers u Stockholders' Equlity Stock Dividends + Sales 24,000 Auto - Cash Supplies Pdyable Expense Expense Expense Expense Commissions 24,000 1 b. | 3,600 V Bal. 20,400 X .-1,950 Bal. 1,950X 3,600 3,600 X 24,000X 600 -600 X -1,350 1,200 1,200 19,800 19,800 750 -750 -2,500 -3,500 -3,500 | x 900 300 Bal. 31,500 450