Transactions 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 $49,000 from personal funds. b. Purchased office supplies on account, $2,490. c. Received cash from fees earned for managing rental property, $6,730. d. Paid rent on office and equipment for the month, $3,050. e. Paid creditors on account, $1,130. f. Billed customers for fees earned for managing rental property, $5,650. g. Paid automobile expenses (including rental charges) for the month, $680, and miscellaneous expenses, $340. h. Paid office salaries, $2,150. i. Determined that the cost of supplies on hand was $1,470; therefore, the cost of supplies used was $1,020. j. Withdrew cash for personal use, $2,030. 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)