Current Attempt in Progress The following information relates to Vaughn Real Estate Agency. Oct. 1 2 3 James Vaughn begins business as a real estate agent with a cash investment of $19,800. Hires an administrative assistant. Purchases office furniture for $2,508, on account. Sells a house and lot for C. Rouse; bills C. Rouse $4,752 for realty services performed. Pays $1,452 on the balance related to the transaction of October 3. Pays the administrative assistant $3,300 in salary for October. 6 27 30 Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit-Credit Analysis Effect on Accounting Equation Eff Oct. oct Debits Increase sets Debit $ 1 Credits Decrease Owner's Equity : Credit $ Oct. 2 Debits No Effect Debit $ Credits Credit $ Current Attempt in Progress The following information relates to Vaughn Real Estate Agency. Oct. 1 2 3 James Vaughn begins business as a real estate agent with a cash investment of $19,800. Hires an administrative assistant. Purchases office furniture for $2,508, on account. Sells a house and lot for C. Rouse; bills C. Rouse $4,752 for realty services performed. Pays $1,452 on the balance related to the transaction of October 3. Pays the administrative assistant $3,300 in salary for October. 6 27 30 Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit-Credit Analysis Effect on Accounting Equation Effect on Amounts Assets : Debi $ Decrease Owner's Equity : Credit $ No Effect : Debit $ : Credit $ Oct. Debits No Effect : Debit $ 2 Credits Credit $ Oct. 3 Debits Increase Assets Debit $ Credits Decrease Liabilities Credit Oct. 6 Debits Increase Assets Debit Credits Increase Revenues Credit $ Oct. 27 Debits Decrease Liabilities : Debit $ Credits Increase Assets Credit $ Oct. 30 Debits No Effect Debit Credits Increase Assets : Credit $ No Effect : Debit $ : Credit $ ncrease Assets : Debit $ Decrease Liabilities Credit $ ncrease Assets Debit $ ncrease Revenues Credit $ Decrease Liabilities : Debit $ ncrease Assets Credit $ No Effect Debit $ ncrease Assets Credit $