Question

This information relates to Blue Real Estate Agency. Oct. 1 Stockholders invest $29,310 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $31,560. 3 Buys office furniture for $4,200, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $11,330 (not paid by Roads at this time). 10 Receives cash of $195 as commission for acting as rental agent renting an apartment. 27 Pays $600 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,630 in salary for October. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter O for 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.)

Answer 1

Date	Account Titles and Explanation	Debit	Credit
Oct. 1	Cash	$29,310
	Common stock		$29,310
	( To record common stock)
Oct. 2	No Journal Entry required
Oct. 3	Office furniture	$4,200
	Accounts payable		$4,200
	( To record purchase of office furniture)
Oct. 6	Accounts receivable	$11,330
	Service revenue		$11,330
	( To record service revenue)
Oct. 10	Cash	$195
	Service revenue		$195
	( To record service revenue)
Oct. 27	Accounts payable	$600
	Cash		$600
	( To record payment of office furniture)
Oct. 30	Salaries and wages expense	$2,630
	Cash		$2,630
	( To record salaries expense)

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