Accounting 100

Chapter 2 Question 1 of 5 - 14 Oct. 1 James Sheffield begins business as a real estate agent with a cash investment of $21,750. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,755, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $5,220 for realty services performed. 27 Pays $1,595 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,625 in salary for October. 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 Effect on Accounting Equation Eff Oct. Debits 1 Debit Cradite