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The following information relates to Waterway Real Estate Agency. Oct. 1 James Waterway begins business as a real estate agent with a cash investment of
The following information relates to Waterway Real Estate Agency. Oct. 1 James Waterway begins business as a real estate agent with a cash investment of $18,000. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,280, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $4,320 for realty services performed. 27 Pays $1,320 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3.000 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 amounts.) Debit-Credit Analysis Affect on Accounts
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