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Presented below is information related to Tamimi AND SERAJ Agency. Oct. 1 salah begins business as a real estate agent with a cash investment of
Presented below is information related to Tamimi AND SERAJ Agency. Oct. 1 salah begins business as a real estate agent with a cash investment of $25,000. 2 Hires an administrative assistant. 3 Purchases office building for $2,900, by paying $700 cash with the balance on account. from SERAJ. 6 Sells a house for SERAJ, earning a fee of $3,600, with $600 collected in cash and the balance billed to SERAJ. 27 Pays $900 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $2,300 in salary for October. 31 Collects $1,200 of the halance niwed hy SFRA. I 30 Pays the a assistant $2,300 in salary for October. 31 Collects $1,200 of the balance owed by SERAJ Instructions: 1. Journalize the transactions. occures in OCT 3,6 on Tamimi books ? 2. Journalize the transactions. occures in OCT, 27,31 on SERAJ book 3. What balance would Tamimi agency report for Accounts Receivable on October 31 ? In which category of which financial statements would it be found?3
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