PR1-1A Transactions On April 1 of the current year, Andrea Byrd established a business to manage rental property. She completed the following transactions during April: a. Opened a business bank account with a deposit of $45,000 in exchange for common stock. b. Purchased office supplies on account, $2,000. c. Received cash from fees earned for managing rental property, $8,500. d. Paid rent on office and equipment for the month, $5,000. e. Paid creditors on account, $1,375. f. Billed customers for fees earned for managing rental property, $11,250 g. Paid automobile expenses (including rental charges) for month, $840, and miscella- OBJ.4 neous expenses, $900. h. Paid office salaries, $3,600. i. Determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. j. Paid dividends, $2,000. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using Continued) the following tabular headings