Exercise 3-8 Your answer is correct. This information relates to Plunkett Real Estate Agency. Oct. 1 Stockholders invest $30,990 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $33,840. 3 Buys office furniture for $4,200, on account. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,570 (not paid by Petty at this time). 10 Receives cash of $210 as commission for acting as rental agent renting an apartment. 27 Pays $740 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,820 in salary for October. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Exercise 3-8

 

	Your answer is correct.

This information relates to Plunkett Real Estate Agency.

Oct. 1		Stockholders invest $30,990 in exchange for common stock of the corporation.
2		Hires an administrative assistant at an annual salary of $33,840.
3		Buys office furniture for $4,200, on account.
6		Sells a house and lot for M.E. Petty; commissions due from Petty, $10,570 (not paid by Petty at this time).
10		Receives cash of $210 as commission for acting as rental agent renting an apartment.
27		Pays $740 on account for the office furniture purchased on October 3.
30		Pays the administrative assistant $2,820 in salary for October.

Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

 

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