Exercise 3-8 This information relates to McCall Real Estate Agency. Oct. 1 2 6 10 27 30 Stockholders invest $30,440 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $41,400. Buys office furniture for $4,030, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $11,030 (not paid by Roads at this time). Receives cash of $140 as commission for acting as rental agent renting an apartment. Pays $700 on account for the office furniture purchased on October 3. Pays the administrative assistant $3,450 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 0 for the amount.) Oct. 1 Debi Debi Cred Cred Increase Stockholders' Equity Decrease Expenses Decrease Revenues No Effect Increase Liabilities Increase Revenues Decrease Liabilities Increase Assets Decrease Assets Increase Expenses Decrease Stockholders' Equity Oct. 2 Debi Debi Cred Credit Oct 3 DLL Oct. 3 Debi Debi Cred Cred No Effect Decrease Liabilities Increase Expenses Decrease Stockholders' Equity Increase Assets Decrease Revenues Increase Revenues Decrease Expenses Increase Liabilities Increase Stockholders' Equity Decrease Assets Oct. 6 Debi Debi Cred Credit Oct. 10 Debits Debit Credits Credit Oct. 27 Debits Debit Credits Oct. 30 Debits Debit Credits Credit