This information relates to Crofoot Real Estate Agency.

Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation.

2 Hires an administrative assistant at an annual salary of $36,000.

3 Buys offi ce furniture for $3,800, on account.

6 Sells a house and lot for M.E. Graves; commissions due from Graves,

$10,800 (not paid by Graves at this time).

10 Receives cash of $140 as commission for acting as rental agent renting an apartment.

27 Pays $700 on account for the offi ce furniture purchased on October 3.

30 Pays the administrative assistant $3,000 in salary for October.

Instructions Prepare the debit–credit analysis for each transaction, as illustrated on pages 121–126.

AppendixLO1