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    rahulmadnani's Avatar
    rahulmadnani Posts: 8, Reputation: 1
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    #1

    Oct 17, 2010, 06:52 PM
    Under each date there are two entries.
    This information relates to Matthews Real Estate Agency Corporation.

    Oct. 1 Stockholders invested $25,000 in exchange for common stock of the corporation.
    Oct. 2 Hires an administrative assistant at an annual salary of $42,000.
    Oct. 3 Buys office furniture for $3,600, on account.
    Oct. 6 Sells a house and lot for M.E. Mills; commissions due from Mills, $10,800 (not paid by Mills at this time).
    Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment.
    Oct. 27 Pays $700 on account for the office furniture purchased on October 3.
    Oct. 30 Pays the administrative assistant $3,500 in salary for October.

    Journalize the transactions.

    Date Account / Description Debit Credit
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 17, 2010, 09:31 PM

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