Question 1 of 3 -16 The following information is related to Lexington Real Estate Agency. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a cash investment of $20,000 in exchange for com stock. Hires an administrative assistant. Purchases office furniture for $2,300, on account. Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed. Pays $850 on the balance related to the transaction of October 3. Pays the administrative assistant $2,500 in salary for October. 6 27 30 Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter O for amounts.) Debit-Credit Analysis : Oct. 1 Debits Debit : Credits Credit : Debit Oct. Increase Assets Increase Revenues Decrease Liabilities Decrease Assets Increase Expenses Increase Stockholders' Equity Decrease Revenues Decrease Stockholders' Equity Decrease Expenses Increase Liabilities No Effect 2 Debits Credit Credits Dobit 0-5=F Debits minimal use of quotes Ai N