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.
6		Sells a house and lot for C. Rouse; bills C. Rouse $4,608 for realty services performed.
27		Pays $1,408 on the balance related to the transaction of October 3.
30		Pays the administrative assistant $3,200 in salary for October.

Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Debit-Credit Analysis Affect on Accounting Equation Affect on Amounts Oct. 1 Debits Increase Assets Debit Cash 19200 Credits Increase Owner's Equity Credit Owner's Capital 19200 Oct. 2 Debits Debit Credits Credit Oct. 3 DebitsIncrease Assets Debit lloffice Furniture 2432 Credits Increase Liabilities Credit |accounts payable 2432 Oct. 6 Debits Increase Assets Debit laccounts receivable 4,608 Credits Increase Revenues Credit Service Revenue 4,608 Oct. 27 Debits Increase Liabilities Debit Accounts Payable 1403 Credits Decrease Assets Credit Cash 1403 Oct. 30 DebitsDecrease Revenues Debit salaries and wages expense 3200 Credits Decrease Assets Credit cash 3200