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This information relates to Flint Real Estate Agency. Oct. 1 Stockholders invest $30,740 in exchange for common stock of the corporation. 2 Hires an
This information relates to Flint Real Estate Agency. Oct. 1 Stockholders invest $30,740 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $38,880. 3 Buys office furniture for $3,630, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,010 (not paid by Roads at this time). 10 Receives cash of $135 as commission for acting as rental agent renting an apartment. 30 28 27 Pays $620 on account for the office furniture purchased on October 3. Pays the administrative assistant $3,240 in salary for October. Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and O for the dimount.) Oct. 1 Debits Debit Credits Credit
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