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This information relates to Cheyenne Real Estate Agency. Oct. 1 Stockholders invest $29,500 in exchange for common stock of the corporation. 2 Hires an administrative
This information relates to Cheyenne Real Estate Agency. Oct. 1 Stockholders invest $29,500 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $30,480. 3 Buys office furniture for $3,650, on account. 6 Sells a house and lot for E.C. Roads; commissions due from Roads, $10,040 (not paid by Roads at this time). 10 Receives cash of $170 as commission for acting as rental agent renting an apartment. 27 Pays $610 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,540 in salary for October. Part 1 Post the transactions to T-accounts.(Post entries in the order of information presented in the question.) Cash > > Accounts Receivable Equipment Accounts Payable Common Stock Service Revenue Salaries and Wages Expense
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