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This information relates to Concord Real Estate Agency. Oct. 1 Stockholders invest $31,480 in exchange for common stock of the corporation. 2 Hires an
This information relates to Concord Real Estate Agency. Oct. 1 Stockholders invest $31,480 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $41,640. 3 Buys office furniture for $4,050, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,050 (not paid by Roads at this time). 10 Receives cash of $210 as commission for acting as rental agent renting an apartment. 27 Pays $620 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,470 in salary for October. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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