The following information is related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins...
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The following information is related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $20,000 in exchange for common stock. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,300, on account. (Hint: Use the Equipment account.) 6 Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed. 27 Pays $850 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $2,500 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.)
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The following information is related to Lexington Real Estate Agency. Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $20,000 in exchange for common stock. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,300, on account. (Hint: Use the Equipment account.) 6 Sells a house and lot for N. Fennig; bills N. Fennig $3,600 for realty services performed. 27 Pays $850 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $2,500 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.) 