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 $55.000 from personal funds. b. Purchased office supplies on account, $3,300. c. Received cash from fees earned for managing rental property, $18,300. d. Paid rent on office and equipment for the month, $8,300. e. Paid creditors on account 52.290. f. Billed customers for fees earned for managing rental property, $30,800. 9. Pald automobile capuses (including rental charges) for the month, $1.380, and miscellaneous expenses, $1,800 h. Paid office starles, $7.300 1. Determined that the cost of supplies on hand was $1,250; therefore, the cost of supplies used was $2,050. 3. Withdrew cash for personal use. $13,800. Required: 1. Indicate the effect of each transaction and the balances after each transactions 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) Liabilities Accounts Accounts Item Cash Recevable Supplies Payable 55,000 Own Fees Rent Pamela Schat, Capital 55.000 Pamela Schatz Drawing Earned Expense 3,300 3,300 Owner's Equity Rent Auto Fees Misc. Salaries Expense Supplies Expense Earned Expense Expense Expense 11,480 x 1,300 55,000 18,300 2.290 010 55,000 00EST 11.480 X 30,800 ..010 55,000 49,100 11,480 X 1,380 X 2,050 x 2010 55,000 49,100 11,480 x X OHET 1,300 7,300 X 10 11,480 X 49,100 1,800 x 55,000 1,380 X 7,300 X 2,050 x 55,000 49,100 11,480 ADIO'T 2,050 X 7,300 x 1,380 X 1,800 x 11,480 X 49,100 2,050 X A OTOT 7,300 X X ORE'T 1,800 55,000 Feased by owner's investments and revenues and decreased by owner's withdrawals and Previous Next Check My Work Transactions On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during a. Opened a business bank account with a deposit of $55,000 from personal funds. b. Purchased office supplies on account, $3,300. c. Received cash from fees earned for managing rental property, $18,300. d. Paid rent on office and equipment for the month, $8,300. e. Paid creditors on account, $2,290. f. Billed customers for fees earned for managing rental property, $30,800. g. Paid automobile expenses (including rental charges) for the month, $1,380, and miscellaneous expenses, $1,800. h. Paid office salaries, $7,300. i. Determined that the cost of supplies on hand was $1,250; therefore, the cost of supplies used was $2,050. 1. 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) Assets Liabilities