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Selected transactions for Polland Real Estate Agency during its first month of business follow: June 1 Samantha Polland opened Polland Real Estate Agency with an
Selected transactions for Polland Real Estate Agency during its first month of business follow: June 1 Samantha Polland opened Polland Real Estate Agency with an investment of $14,910 cash and $2,900 of equipment. 2 Paid $1,170 for a one-year insurance policy. 3 Purchased additional equipment for $4,010, paying $945 cash and signing a note payable for the balance. 10 Received $290 cash as a fee for renting an apartment. 16 Sold a house and lot to B. Rollins. The commission due from Rollins is $7,820. (It is not paid by Rollins at this time). 27 Paid $640 for advertising during June. 29 Received an $95 bill for telephone service during the month of June. (The bill is paid in July.) 30 Paid an administrative assistant $2,190 in salary for June. 30 Received $7,820 cash from B. Rollins for the June 16 transaction. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit June 1 LINK TO TEXT LINK TO TEXT LINK TO TEXT Post the journal entries to the general ledger, using T accounts. (Post entries in the order of journal entries presented in the previous part. Select the date for closing balances even in case of zero balance. If ending balance is O enter O on the normal side for the account.) Cash Accounts Receivable Prepaid Insurance
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