General entries ex debit credit

rcise 2-9 and 2-10 ected transactions for Polland Real Estate Agency during its first month of business follow: e 1 Samantha Polland opened Polland Real Estate Agency with an investment of $13,940 cash and $3,170 of equipment. 2 Paid $1,330 for a one-year insurance policy. 3 Purchased additional equipment for $4,710, paying $760 cash and signing a note payable for the balance. 10 Received $295 cash as a fee for renting an apartment. 16 Sold a house and lot to B. Rollins. The commission due from Rollins is $7,730. (It is not paid by Rollins at this time). 27 Paid $790 for advertising during June. 29 Received an $90 bill for telephone service during the month of June. (The bill is paid in July.) 30 Paid an administrative assistant $1,750 in salary for June. 30 Received $7,730 cash from B. Rollins for the June 16 transaction