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The following information relates to Oriole Real Estate Agency. Oct. 1 Alan Oriole begins business as a real estate agent with a cash investment of
The following information relates to Oriole Real Estate Agency.
Oct. 1 | Alan Oriole begins business as a real estate agent with a cash investment of $24,000. | |
2 | Hires an administrative assistant. | |
3 | Purchases office furniture for $3,040, on account. | |
6 | Sells a house and lot for R. Craig; bills R. Craig $6,080 for realty services performed. | |
27 | Pays $1,760 on the balance related to the transaction of October 3. | |
30 | Pays the administrative assistant $4,000 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.)
Effect on Accounting Equation Oct. 1 Debits : Debit $ Credits Credit $ Oct. Debits Debit $ 2 Credits Credit $ Oct. 3 Debits : Debit $ Credits Credit $ Oct. 27 Debits Debit $ Credits Credit $ Oct. 30 Debits : Debit $ Credits Credit $ Effect on Amounts $ $ % A A $ % $ % $ % $
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