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This information relates to Pronghorn Real Estate Agency. Oct. 1 2 3 6 Stockholders invest $31,100 in exchange for common stock of the corporation. Hires
This information relates to Pronghorn Real Estate Agency. Oct. 1 2 3 6 Stockholders invest $31,100 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $31,320. Buys office furniture for $3.970, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $12,380 (not paid by Roads at this time). Receives cash of $240 as commission for acting as rental agent renting an apartment. Pays $770 on account for the office furniture purchased on October 3. Pays the administrative assistant $2.610 in salary for October. 10 27 30 Prepare the debit-credit analysis for each transaction. If there is no transaction, then enter No Effect for the account and for the amount.) Oct. 1 Debits Debit $. Oct. 1 Debits $ Common Stock Credit Equipment Accounts Payable Accounts Receivable Debits Service Revenue Salaries and Wages Expense Debit No Effect Oct.2 Credit $ Oct. 10 Debits Credit $ Oct. 27 Debits
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