Question

This information relates to McCall Real Estate Agency Oct 1 Stockholders invest $29,100 in exchange for common stock of the corporation 2 Hires an administrative assistant at an annual salary of $30,000 3 Buys office furniture for $3,610, on account. 6 Sells a house and lot for E.C. Roads, commissions due from Roads, $10,000 (not paid by Roads at this time). 10 Receives cash of $130 as commission for acting as rental agent renting an apartment. 27 Pays $600 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,500 in salary for October Journalize the transactions. If no entry is required, select "No entry for the account ttles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 2000-2020. John Wiley Sons, Inc. All Rights Reserved. A Division of the Wiley & Sons, Inc.

Answer 1

Answer
Date	Account Title	Debit	Credit
Oct-01	Cash	$     29,100
	Common Stock		$     29,100
Oct-02	NO entry	$             -
	NO entry		$             -
Oct-03	Equipment	$       3,610
	Accounts Payable		$       3,610
Oct-06	Accounts Receivable	$     10,000
	Service Revenue		$     10,000
Oct-10	Cash	$          130
	Service Revenue		$          130
Oct-27	Accounts Payable	$          600
	Cash		$          600
Oct-30	Salaries and wages expense	$       2,500
	Cash		$       2,500