Question

Stockholders invest $30,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $36,000. 3 Buys office furniture for $3,800, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,800 (not paid by Roads at this time) 10 Receives cash of $140 as commission for acting as rental agent renting an apartment. 27 Pays $700 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,000 in salary for October. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answer 1

Answer:

Explanation:

1)

Dr Cash $30,000  

Cr Common Stock  $30,000

2) No Entry  

3)

Dr Office Furniture $3,800  

Cr Accounts Payable  $3,800

6)

Dr Accounts receivables $10,800  

Cr Service Revenue (Commission) $10,800

10)

Dr Cash $140  

Cr Service Revenue (Commission)  $140

27)

Dr Accounts Payable $700  

Cr Cash  $700

30)

Dr Salary Expense $3,000  

Cr Cash  $3,000