lew Policies Current Attempt in Progress The following information relates to Lily Real Estate Agency. James Lily begins business as a real estate agent with a cash investment of $19.200. Hires an administrative assistant. Oct. 1 2 3 Purchases office furniture for $2,432, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $4,608 for realty services performed. 27 Pays $1,408 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,200 in salary for October.