Transactions On September 1 of the current year, Joy Tucker establish a business to manage rental property.

Transactions On September 1 of the current year, Joy Tucker established a business to manage rental property. She completed the following transactions during September: a. Opened a business bank account with a deposit of $36,000 in exchange for common stock. b. Purchased office supplies on account, $1,800 c. Received cash from fees earned for managing rental pro d. Paid rent on office and equipment for the month, $5,00 e. Paid creditors on account, $1,375 f. Billed customers for fees earned for managing rental property, $9,500 Paid automobile expenses for month, $840, and miscellaneous expenses, $960 Paid office salaries, $3,600 l. Determined that the cost of supplies on hand was $350; therefore, the cost of supplies used was $1,450 j. Paid dividends, $3,000 Required: 1. Indicate the effect of each transaction and the balances after each transaction: For those boxes in which no entry is requred, leave the box blank For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300) - Liabilities + Stockholders' Equity SuppExP Expense ntsstock Common - Dividends + Auto_ Expense Misc. Item Expense Item Cash + +Supplies Accounts Receivable Paya Earned Expense 36,00 36,00 1,800 v 1,800 Bal. 36,00 1,800 1,800 36,00 Bal 6,750 6,750 1,800v 1,800 36,00 6,750 Bal Bal. 37,75 1,800 1,800 36,00 6,750 5,000 x Bal 36,37 1,800 425 36,00 6,750 5,000 x Bal 9,500 9,500 al. 36,379,500 1,800 Bal. 34,57 9,500 1.800 l 30,979,500 1,800 425 36,00 5,000x Bal 960 x g 1,800 425 36,00 5,000x 960 x Bal 3,600 3,600 425 36,00 5,000x 960 x Bal 1,450 X 1,450 | 30,97 9,500 350 425 36,00 5,000x 3,600 1,450X 960 x Bal 27,979,500350 425 36,00 5,000x 3,600 1,450X 960 x Bal