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This information relates to Concord Real Estate Agency for the month of October, 2022. Oct. 1 2 Stockholders invested $32,000 in exchange for common stock
This information relates to Concord Real Estate Agency for the month of October, 2022. Oct. 1 2 Stockholders invested $32,000 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $42,000. Buys equipment for $3,200 on account. 3 6 10 Sells a house and lot for M Springer; commissions due from Springer, $10,000 (not paid by Springer at this time). Receives cash of $190 as commission for acting as rental agent renting an apartment. Pays $640 on account for the equipment purchased on October 3. 27 30 Pays the administrative assistant $3,500 in salary for October. Date Account Titles and Explanation Debit Credit Post the transactions to T accounts. (Post entries in the order of journal entries presented in the previous part.) Cash a + Accounts Receivable Equipment Accounts Payable a Common Stock 4 Service Revenue 4 4 Salaries and Wages Expense 4
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