Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below is information related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment

image text in transcribed
image text in transcribed
Presented below is information related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $26,082 in exchange for common stock 2 Hires an administrative assistant. for $2,999, on account 6 Sells a house and lot for N. Fennig; bills N. Fennig $4,695 for realty services performed. 27 Pays $1,108 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,260 in salary for October Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entri presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 26,082 26,082 Oct. 2 2,999 Oct. 3 :1Toffice furniture Accounts Payable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Collaborative Auditing

Authors: James Pelletier, Yuki Matsuura

2nd Edition

0894139606, 9780894139604

More Books

Students also viewed these Accounting questions

Question

What do you think accounts for the fact that turnover is low?

Answered: 1 week ago