Question
This information relates to Sheffield Real Estate Agency. Oct. 1 Stockholders invest $31,130 in exchange for common stock of the corporation. 2 Hires an administrative
This information relates to Sheffield Real Estate Agency. Oct. 1 Stockholders invest $31,130 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $42,120. 3 Buys office furniture for $3,830, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,570 (not paid by Roads at this time). 10 Receives cash of $240 as commission for acting as rental agent renting an apartment. 27 Pays $680 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,510 in salary for October. Prepare the debitcredit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and 0 for the amount.)
Oct. 1 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 2 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 3 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 6 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 10 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 27 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title $enter a dollar amount
Oct. 30 Debits select an increase or decrease of an item Debit enter an account title $enter a dollar amount Credits select an increase or decrease of an item Credit enter an account title
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