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Exercise 2-4 Presented below is information related to Cullumber Company Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment

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Exercise 2-4 Presented below is information related to Cullumber Company Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $15,000 in exchange for common stock. 2 Hires an administrative assistant. 3 Purchases office furniture for $1,800, on account 6 Sells a house and lot for N. Fennig; bills N. Fennig $3,000 for realty services performed. 27 Pays $500 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $2,000 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 Debit Credit Oct. 1 Debits Credits Oct. 2 Debits Debit : Credit Credits Oct. 3 Debits : Debit Credits Credit

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