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This information relates to Riverbed Real Estate Agency Stockholders invest $32,300 in exchange for common stock of the corporation Oct. 1 Hires an administrative assistant
This information relates to Riverbed Real Estate Agency Stockholders invest $32,300 in exchange for common stock of the corporation Oct. 1 Hires an administrative assistant at an annual salary of $30,600. 2 Buys office furniture for $3,650, on account. 3 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,790 (not paid by Roads at this time) 6 Receives cash of $180 as commission for acting as rental agent renting an apartment. 10 Pays $620 on account for the office furniture purchased on October 3. 27 Pays the administrative assistant $2,550 in salary for October. 30 Prepare the debit-credit analysis for each transaction. (lf there is no transaction, then enter No Effect for the account and 0 for the amount.) Debits Oct. 1 Debit $ Cash Credits Credit $ Common Stock Debits Oct. 2 $ Debit Credits Credit $ Debits Oct. 3 Debit Credits Credit Debits Oct. 6 Debit Credits Credit $ Debits Oct. 10 Debit Credits Credit Debits Oct. 27 Debit Credits Credit Debits Oct. 30 $ Debit Credits Credit
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