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This information relates to Novak Real Estate Aacncy. Oct, 1 Stockholders invest $30,100 in exchange for common stock of the corporation. 2. Hires an administrative
This information relates to Novak Real Estate Aacncy. Oct, 1 Stockholders invest $30,100 in exchange for common stock of the corporation. 2. Hires an administrative assistant at an annual salary of $31,200. 3 Buys offuce furniture for $3,710, on account. 6 Sells a house and lot for E. C. Roadsicommissions due from Roads, $10,100 (not paid by Roads at this time). 10 Recelves cash of $230 as commission for acting as rental agent renting an apartment. 27 Pays 5730 on account for the otfice furniture purchased on October 3. 30 Pays the administrative assistant $2,600 in salary for October. Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of information presented in the Guestion)
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