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gWhat can I put instead of Salary Expense?? please be accurate. Show Attempt History Current Attempt in Progress Your answer is partially correct. The following
gWhat can I put instead of "Salary Expense"?? please be accurate.
Show Attempt History Current Attempt in Progress Your answer is partially correct. The following information is related to Lexington Real Estate Agency. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a cash investment of $20,000 in exchange for common stock. Hires an administrative assistant. Purchases office furniture for $2,300, on account. (Hint: Use the Equipment account.) Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed. Pays $850 on the balance related to the transaction of October 3. Pays the administrative assistant $2,500 in salary for October. 6 27 30 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 Oct. 1 Debits Increase Assets : Debit Cash Credits Increase Stockholders' Equity Credit Common Stock Oct. 2 Debits No Effect : Debit No Entry Credits No Effect Credit No Entry Oct. 3 Debits Increase AssetsStep by Step Solution
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