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5 The following information relates to Coronado Real Estate Agency Oct. 1 James Coronado begins business as a real estate agent with a cash investment
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The following information relates to Coronado Real Estate Agency Oct. 1 James Coronado begins business as a real estate agent with a cash investment of $19,500. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,470, on account. Sells a house and lot for C. Rouse; bills C. Rouse $4.680 for realty services performed. 27 Pays $1,430 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,250 in salary for October 6 Prepare the debit-credit analysis for each transaction (If no entry is required, select "No Entry* for the account titles and enter O for the amounts.) Debit-Credit Analysis Debit-Credit Analysis Effect on Accounting Equation Debit Effec Oct. 1 Debits $ Credits Credit $ Oct. 2 Debits Debit $ Credits Credit $ Oct. 3 Debits Debit $ Credits Credit $ Oct. 6 Debits Debit $ Credits Credit Oct. 27 Debits : Debit $ Credits Credit Oct. 30 Debits Debit $ Credits Credit Debit-Credit Analysis Effect on Accounting Equation Effect on Amounts 2: Debit $ Credit Debit Credit $ Debit $ $ Credit Debit Credit $ Debit $ $ Credit Debit $ Credit Step by Step Solution
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