Question

-/1 This information relates to Ayayai Real Estate Agency Oct. 1 2 3 6 10 Stockholders invest $31.460 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $31.800. Buys office furniture for $3,810, on account. Sells a house and lot for E.C. Roads, commissions due from Roads, $11,020 (not paid by Roads at this time). Receives cash of $230 as commission for acting as rental agent renting an apartment Pays $780 on account for the office furniture purchased on October 3. Pays the administrative assistant $2,650 in salary for October. 27 30 Journalize the transactions. (If no entry is required, select "No entry for the account titles and enter 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.) Date Account Titles and Explanation Debit Credit MacBook Air

Answer 1

Date		Accounts	Ref.	Debit	Credit
Oct	1	Bank		$               31,460
		Share Issued			$               31,460
		Being Share Issued to Stockholders and Cheque received.
		( Assumed shares of Ayayai real State Agency has been issued)
	2	No Entry
		( No entry as Assistant has only been hired. No outflow of any Monetry Value)
	3	Office Furniture		$                 3,810
		Creditor for Furniture Purchased			$                 3,810
		Purchased Office Furniture)
	6	Commission Receivable from Road		$               11,020
		Commission Income			$               11,020
		Commission Receivable against Commission Earned)
	10	Cash		$                    230
		Commission Income			$                    230
		( Commission Earned in Cash )
	10	Cash		$                    230
		Commission Income			$                    230
		( Commission Earned in Cash )
	27	Creditor for Furniture Purchased		$                    780
		Cash			$                    780
		(Being Payment made )
	30	Salary		$                 2,650
		Cash			$                 2,650
		(Being Salary Paid)