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Oct. 1 Stockholders invest $33,860 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $31,320. 3
Oct. 1 Stockholders invest $33,860 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $31,320. 3 Buys office furniture for $3,850, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,620 (not paid by Roads at this time). 10 Receives cash of $220 as commission for acting as rental agent renting an apartment. 27 Pays $790 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,610 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 for the amount.) Oct. 1 Debits Debit Credits Credit Oct. 2 Debits Debit Credits Credit Oct. 3 Debits Debit Credits Credit Oct. 6 Debits Debit Credits Credit Oct. 10 Debits Debit Credits Credit Oct. 27 Debits Debit Credits Credit Oct. 30 Debits Debit Credits Credit
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