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Journal Entries and Trial Balance On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: a. Jay
Journal Entries and Trial Balance On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: a. Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $30,000. b. Paid rent on office and equipment for the month, $5,410. c. Purchased supplies on account, $1,600. d. Paid creditor on account, $590. e. Earned sales commissions, receiving cash, $24,600. f. Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $1010. 9. Paid office salaries, $3,150. h. Determined that the cost of supplies used was $890. 1. Paid dividends, $1,450.
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