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On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 Jay Crowley transferred cash from a

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On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. 2 Paid rent on office and equipment for the month, $4,800. 3 Purchased supplies on account, $2,150 4 Paid creditor on account, $1,100. 5 Earned sales commissions, receiving cash, $18,750 6 Paid automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $800. 7 Paid office salaries, $3,500 8 Determined that the cost of supplies used was $1,300 Paid dividends, $1,500 9 1. Joumalize entries for transactions Oct. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the journal entries to the T accounts, selecting the appropriate date to the ieft of each amount to identity the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance 3. Prepare an unadjusted trial balance as of October 31, 2018

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