Question

This information relates to Indigo Real Estate Agency. Oct. 1 Stockholders invest $31,830 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $38,400. 3 Buys office furniture for $3,910, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $11,300 (not paid by Roads at this time). 10 Receives cash of $190 as commission for acting as rental agent renting an apartment. 27 Pays $610 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,200 in salary for October. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

Answer 1

Journal entry

Date	General Journal	Debit	Credit
Oct 1	Cash	31830
	Common Stock		31830
Oct 2	No Adjusting entry
Oct 3	Furniture	3910
	Account payable		3910
Oct 6	Account receivable	11300
	Commission revenue		11300
Oct 10	Cash	190
	Commission revenue		190
Oct 27	Account payable	610
	cash		610
Oct 30	Salary expense	3200
	Cash		3200