54F Question 1 of 5 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. The following information relates to Lily Real Estate Agency James Lily begins business as a real estate agent with a cash investment of $21,450 Oct. 1 2 Hires an administrative assistant. D 3 Purchases office furniture for $2.717, on account. 8 Sells a house and lot for C. Rouse bills C. Rouse $5.148 for realty services performed. 27 Pays $1.373 on the balance related to the transaction of October 3 30 Pays the administrative assistant 53.575 in salary for October 3.22/4 I Prepare the bit credit analysis for each transaction of no entry is required select "No Entry for the account tities and anter O for the D Debit-Credit Analysis Affect on Accounts Debit Cash $ Credits Increase Owner's Equity Credit Owner's Capital Oct. 1 Debits Increase Assets Oct. Debits No Effect 2 Credits No Effect Debit No Entry Credit No Entry Oct. 3 Debits Increase Assets Debit Equipment Credits Increase Liabilities Credit Unearned Service Revenue a 5 $ 10 NDD 10:33 A 5/10/20 Question 1 of 5 Credits Increase Liabilities Credit Unearned Service Revenue Oct 6 Debits Increase Pets Debit Insurance Expense Credits Increase Revenue Credit Insurance Expen Oct. 27 Debits Decrease Liabilities Debit Credits Decrease Assets Credit Oct. 30 Debits increase Expens Debit Credits Decrease Assets Credit 3,22/4 E S 10:34 AM