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Question 3 This information relates to the Granby Real Estate Agency. Oct. 1 Stockholders invested $20,000 in exchange for common stock of the corporation. 2

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Question 3 This information relates to the Granby Real Estate Agency. Oct. 1 Stockholders invested $20,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $36,000. 3 Buys office furniture for $3,500 on account. 6 Sells a house and lot for M Springer; commissions due from Springer, $8,000 (not paid by Springer at this time). 10 Receives cash of $140 as commission for acting as rental agent renting an apartment. 27 Pays $700 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,000 in salary for October. 1. Journalize the transactions. You do not have to provide explanations. 2. Post the transactions to T accounts

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