(b) Journalize the transactions. Do not provide explanations. E3-8 This information relates to McCall Real Estate Agency. Stockholders invest $30,000 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $36,000. Buys office furniture for $3,800, on account. Oct. 3 Sells a house and lot for E. C. Roads; commissions due from Roads, $10.800 6. (not paid by Roads at this time). Receives cash of $140 as commission for acting as rental agent renting an 10 apartment. Pays $700 on account for the office furniture purchased on October 3 Pays the administrative assistant $3,000 in salary for October. 27 30 Instructions Prepare the debit-credit analysis for each transaction, as illustrated on pages 111-6.

(b) Journalize the transactions. Do not provide explanations. E3-8 This information relates to McCall Real Estate Agency. Stockholders invest $30,000 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $36,000. Buys office furniture for $3,800, on account. Oct. 3 Sells a house and lot for E. C. Roads; commissions due from Roads, $10.800 6. (not paid by Roads at this time). Receives cash of $140 as commission for acting as rental agent renting an 10 apartment. Pays $700 on account for the office furniture purchased on October 3 Pays the administrative assistant $3,000 in salary for October. 27 30 Instructions Prepare the debit-credit analysis for each transaction, as illustrated on pages 111-6.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.10E: Effects of transactions on Accounting equation On Time Delivery Service had the following selected...

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