Transactions On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during Nune: a. Opened a business bank account with a deposit of $35.000 from personal funds b. Purchased office supplies on account, $2,760. c. Received cash from fees earned for managing rental property, 57,450 d. Paid rent on office and equipment for the month, $3,390. e. Paid creditors on account, $1,260 t. Billed customers for fees earned for managing rental property, 16,280. 9. Paid automobile expenses (including rental charges) for the month, $750, and miscellaneous expenses, 380 h. Paid office salaries, 92,390 Determined that the cost of supplies on hand was $1,630; therefore, the cost of supplies used was 51,130. 3. Withdrew cash for personal use. $2,260 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) Assets - Liabilities + Chad Chad Accounts Accounts Item Cash Supplies Wilson Wilson, + Receivable Payable Capital Drawing Owner's Equity + Fees Earned Rent Expense Salaries Expense Supplies Expense Auto Expense Expense Bal Bal d Previous Check My Won