Question 4 of 13
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The following information is related to Jackson Real Estate Agency.
Oct. 1 Nancy Jackson begins business as a real estate agent with a cash investment of $21,200 in exchange for common
stock.
2 Hires an administrative assistant.
3 Purchases office furniture for $1,950, on account. (Hint: Use the Equipment account.)
6 Sells a house and lot for N. Fennig; bills N. Fennig $3,850 for realty services performed.
27 Pays $600 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.)
Debit-Credit Analysis
Oct. 1 Debits
Debit
Credits
Credit