Exercise 3-8 Your answer is partially correct. Try again. This information relates to McCall Real Estate Agency Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation 2 Hires an administrative assistant at an annual salary of $36,000 Buys office furniture for $3,800, on account. 3 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,800 (not paid by Roads at this time) 10 Receives cash of $140 as commission for acting as rental agent renting an apartment. 27 Pays $700 on account for the office furniture purchased on October 3 30 Pays the administrative assistant $3,000 in salary for October. Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and 0 for the amount.) oct. 1 Debits Increase Assets Debit Cash Credits tockholders' Equity Credit Common Stock Debits No Effect Debit No Effect 30000 Oct. 2