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Presented below is information related to Lexington Real Estate Agency.

Oct. 1 Diane Lexington begins business as a real estate agent with a cash investment of $15,600 in exchange for common stock.

2 Hires an administrative assistant.

3 Purchases office furniture for $2,250, on account.

6 Sells a house and lot for N. Fennig; bills N. Fennig $4,000 for realty services performed.

27 Pays $800 on the balance related to the transaction of October 3.

30 Pays the administrative assistant $2,750 in salary for October.

Prepare the debit-credit analysis for each transaction.

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Accounting Basics, Accounting

Category:- Accounting Basics
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