Question
Current Attempt in Progress The following information is related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins business as a real estate agent
Current Attempt in Progress
The following information is related to Lexington Real Estate Agency.
Oct. | 1 | Diane Lexington begins business as a real estate agent with a cash investment of $20,000 in exchange for common stock. | |
2 | Hires an administrative assistant. | ||
3 | Purchases office furniture for $2,300, on account. | ||
6 | Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed. | ||
27 | Pays $850 on the balance related to the transaction of October 3. | ||
30 | Pays the administrative assistant $2,500 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 0 for the amounts.)
Debit-Credit Analysis | |||||||||
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Oct. | 1 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 1 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 1 | $enter a dollar amount | ||||||
---|---|---|---|---|---|---|---|---|---|
Oct. | 2 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 2 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 2 | $enter a dollar amount | ||||||
---|---|---|---|---|---|---|---|---|---|
Oct. | 3 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 3 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 3 | $enter a dollar amount | ||||||
---|---|---|---|---|---|---|---|---|---|
Oct. | 6 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 6 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 6 | $enter a dollar amount | ||||||
---|---|---|---|---|---|---|---|---|---|
Oct. | 27 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 27 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 27 | $enter a dollar amount | ||||||
---|---|---|---|---|---|---|---|---|---|
Oct. | 30 | Debits | select an effect on a basic account type |
: | Debit | enter an account title for the journal entry on October 30 | $enter a dollar amount | ||
---|---|---|---|---|---|
Credits | select an effect on a basic account type |
: | Credit | enter an account title for the journal entry on October 30 |
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