EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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The following information is related to Kingbird Real Estate Agency.
Oct.
1
Diane Lexington begins business as a real estate agent with a cash investment of $24,200 in exchange for common stock.
2
Hires an administrative assistant.
3
Purchases office furniture for $2,250, on account. (Hint: Use the Equipment account.)
6
Sells a house and lot for N. Fennig; bills N. Fennig $3,350 for realty services performed.
27
Pays $600 on the balance related to the transaction of October 3.
30
Pays the administrative assistant $2,300 in salary for October.
Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Debit-Credit Analysis
Oct.
1
Debits
select an effect on a basic account type :
Debit
enter an account title for the journal entry on October 1
$enter a dollar amount…
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