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marishachu [46]
2 years ago
9

This information relates to Monty Real Estate Agency for the month of October, 2022.

Business
1 answer:
Darina [25.2K]2 years ago
7 0

Answer:

Oct 1   Cash                            $37000 Dr

                 Common Stock          $37000 Cr

Oct 3  Equipment Account    $4400 Dr

                 Accounts Payable      $4400 Cr

Oct 6  Accounts Receivable       $10500 Dr

                 Commission Revenue    $10500 Cr

Oct 10  Cash                                $190 Dr

                Commission Revenue    $190 Cr

Oct 27  Accounts Payable          $880 Dr

                   Cash                                $880 Cr

Oct 30  Salary Expense              $3000 Dr

                     Cash                              $3000 Cr

Explanation:

The event on October 2 of hiring an administravtive assistant is not a financial event so it will not be recoreded and journalized. All the other transactions are recorded and journalized.

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The $500 is the opportunity cost.

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