Question

Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. Explanation plies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office 2. Prepare T accounts, using the account titles in (1). Post the journal entries to the accounts, placing the appropriate letter to the left of each amount to identify the transaction Determine the account balances after all posting is complete. Accounts containing only a sine PR 2-2A Journal entries and trial balance Obj. 1, 2, 3, 4 56,770 On October 1, 2046, Jay Crowley established Affordable Realty, which completed the following transactions during the month: a. Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. ATE b. Pald rent on office and equipment for the month, $4,800. c Purchased supplies on account, $2,150. d. Paid creditor on account, $1,100. e. Earned sales commissions, receiving cash, $18,750. € Paid automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $800. 9. Paid office salaries, $3,500. h. Determined that the cost of supplies used was $1,300. 1. Paid dividends, $1,500. Instructions may be omitted. entry do not need a balance.

Answer 1