The following information is related to Novak Real Estate Agency. Oct 1 Diane Lexington begins business as
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Question:
The following information is related to Novak Real Estate Agency.
Oct
1 Diane Lexington begins business as a real estate agent with a cash investment of $24,400 in exchange for common stock.
2 Hires an administrative assistant.
3. Purchases office furniture for $2,350, on account. (Hint: Use the Equipment account.)
6 Sells a house and lot for N. Fennig: bills N. Fennig $3,250 for realty services performed.
27 Pays $1,100 on the balance related to the transaction of October 3.
30 Pays the administrative assistant $2,400 in salary for October.
Prepare the debit-credit analysis for each transaction
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