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accounting help Presented below is information related to Novak Company. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a
accounting help
Presented below is information related to Novak Company. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a cash investment of $ 24,400 in exchange for common stock. Hires an administrative assistant. Purchases office furniture for $2,350, on account. Sells a house and lot for N. Fennig; bills N. Fennig $3,250 for realty services performed. Pays $1,100 on the balance related to the transaction of October 3. Pays the administrative assistant $2,400 in salary for October. 6 27 30 Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit-Credit Analysis Debit 24.400 Oct. 1 Debits Increase Assets Increase Stockholders' Equity Credits Credit 24,400 Oct. 2 Debits No Effect Debit 0 Credits No Effect Credit 0 Oct. 3 Debits Decrease Stockholders' Equity Debit 2.350 Credits Increase Liabilities : Credit 2.350 Oct. 6 Debits
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