blems: Series A PR 1-1A Transactions OBJ. 4 1 1 of the current year, Andrea Byrd established a business to manage 85 property. She completed the following transactions during April: a. Opened a business bank account with a deposit of $45,000 from personal funds. b. Purchased office supplies on account, $2,000. c. Received cash from fees earned for managing rental property, $8,500 d. Paid rent on office and equipment for the month, $5,000. e. Paid creditors on account, $1,375 f. Billed customers for fees earned for managing rental property, $11,250. g. Paid automobile expenses (including rental charges) for month, $840, and miscella- neous expenses, $900. h. Paid office salaries, $3,600. i. Determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450 j. Withdrew cash for personal use, $2,000. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings Chapter 1 l 1. Cash received from fees earned. 2. Cash paid for expenses 3. Cash paid for land. 4. Cash paid to owner for personal use