Answer:
Oct. 1
Cash $33,540 (debit)
Common Stock $33,540 (credit)
<em>Being Investment made by Stockholders</em>
Oct. 2
Salaries Expense $3,460 (debit)
Salaries Payable $3,460 (credit)
<em>Being administrative assistant hired</em>
Oct. 3
Office furniture $3,690 (debit)
Accounts Payable $3,690 (credit)
<em>Being Office Furniture Purchased on Account</em>
Oct. 6
Accounts Receivable $11,190 (debit)
Commission Earned $11,190 (credit)
<em>Being Commission earned not yet paid</em>
Oct. 10
Cash $155 (debit)
Commission Earned $155 (credit)
<em>Being commission earned and paid up</em>
Oct. 27
Accounts Payable $660 (debit)
Cash $660 (credit)
<em>Being payment of office furniture</em>
Oct. 30
Salaries Payable $3,460 (debit)
Cash $3,460 (credit)
<em>Being payment of October Salary to administrative assistant</em>
Explanation:
The Journal Entry and Narrations are given above.
