The following information relates to Sheffield Real Estate Agency Oct. 1 James Sheffield begins business as a real estate agent with a cash investment of $21,750. 2. Hires an administrative assistant. 3 Purchases office furniture for $2,755, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $5,220 for realty services performed. 27 Pays $1,595 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,625 in salary for October