Journalizing transactions (Learning Objective 3) 15–20 min.

These transactions relate to Auberge Agency.

Oct. 1 236 10 27 30 Stockholders invested $45,000 in exchange for common stock of the corporation.

Hires an assistant at an annual salary of $24,000.

Buys office equipment for $2,500 on account.

Sells a house on account for M Houssam; $15,000 commission due from him.

Receives cash of $180 as commission.

Pays $500 on account for equipment purchased on October 3.

Pays the assistant $2,000 in salary for October.

Requirements

a. Journalize the transactions. Do not provide explanations.

b. Post the transactions to T-accounts.

AppendixLO1