On april 1 of the current year, morgan jones established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $60,000 in exchange for common stock. purchased office supplies on account, $1,800. received cash from fees earned for managing rental property, $22,300. paid rent on office and equipment for the month, $7,000. paid creditors on account, $1,100. billed customers for fees earned for managing rental property, $3,600. paid automobile expenses for month, $750, and miscellaneous expenses, $1,000. paid office salaries, $4,000. determined that the cost of supplies on hand was $250; therefore, the cost of supplies used was $1,550. paid dividends, $5,000. 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.