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Exercise 3-8 This information relates to McCall Real Estate Agency. Oct. 1 2 6 10 27 30 Stockholders invest $29,490 in exchange for common stock
Exercise 3-8 This information relates to McCall Real Estate Agency. Oct. 1 2 6 10 27 30 Stockholders invest $29,490 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $37,560. Buys office furniture for $4,010, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $10,910 (not paid by Roads at this time). Receives cash of $145 as commission for acting as rental agent renting an apartment. Pays $630 on account for the office furniture purchased on October 3. Pays the administrative assistant $3,130 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 Oct. 3 Debits Debit Credits Credit Oct. 6 Debits Debit Credits Credit Oct. 10 Debits Debit Credits Credit Oct. 27 Debits Debit DEUIL Credits Credit Oct. 30 Debits Debit Credits Credit
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