WD1 3-8

Exercise 3-8 This information relates to McCall Real Estate Agency Oct. 1 Stockholders invest $30,540 in exchange for common stock of the corporation. 2 Hires,an administrative assistant at an annual salary of $34,920. Buys office furniture for $3,950, on account. 3 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,210 (not paid by Roads at this time). 10 Receives cash of $240 as commission for acting as rental agent renting an apartment. 27 Pays $770 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,910 in salary for October. Prepare the debit-credit analysis for each transaction. (I there is no transaction, then enter No Effect for the account and 0 for the amount. oct. 1 Debits Debit Credits Credit oct. 2 Debits Debit Credits Credit oct. 3 Debits Debit Credits Credit oct. 6 Debits Debit Credits Credits Credit oct. 6 Debits Debit Credits Credit L oct. 10 Debits Debit Credits Credit oct. 27 Debits Debit Credits Credit oct. 30 Debits Debit Credits Credit