The following information relates to Lily Real Estate Agency Oct 1 James Lily begins business as a real estate agent with a cash investment of $19,200. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,432, on account Sells a house and lot for C. Rouse; bills C. Rouse $4,608 for realty services performed. Pays $1,408 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,200 in salary for October 6 27 Debit-Credit Analysis Effect on Accounting Equation Effos Oct. Debits No Effect 1 Debit No Entry $ Credits No Effect Credit No Entry Oct. 2 Debits Debit Credits Credit Oct. 3 Debits Debit Credits Credit 5 12 ADU met education wiley.com ./1 ch transaction. If no entry is required, select "No Entry for the account titles and enter Debit Credit Analysis counting Equation Effect on Amounts No Entry No Entry $ 3 B W sty delete -11 Credits . Credit Oct 3 Debits Debit Credits Credit Oct 6 Debits Debit Credits Credit Oct Debits . Debit 27 Credits Credit Oct Debits Debit 30 Credit Credits