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Exercise 3-08 This information relates to Sheffield Real Estate Agency. Oct. 1 2 3 6 10 27 30 Stockholders Invest $33,360 In exchange for common
Exercise 3-08 This information relates to Sheffield Real Estate Agency. Oct. 1 2 3 6 10 27 30 Stockholders Invest $33,360 In exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $31,320. Buys office furniture for $3,850, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $10,620 (not paid by Roads at this time). Receives cash of $220 as commission for acting as rental agent renting an apartment. Pays $790 on account for the office furniture purchased on October 3. Pays the administrative assistant 52,610 in salary for October. Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and o for the amount.) Oct. 1 Debits Debit Credits Credit Oct. 2 Debits Debit Credits Credit Oct. 3 Debits Debit Credits Credit Oct. 6 Debits Debit Credits Credit Oct. 10 Debits Debit Credits Credit Oct. 27 Debits Debit Oct. 27 Debits Debit Credits Credit Oct. 30 Debits Debit Credits Credit Click if you would like to Show Work for this question: Open Show Work
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