journalize transactions

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Exercise 2-5

Presented below is information related to Lachapelle Real Estate Agency.

Oct. 1 Arthur Lachapelle begins business as a real estate agent with a cash investment of $20,055.
2 Hires an administrative assistant.
3 Purchases office furniture for $2,540, on account.
6 Sells a house and lot for J. Baxter; bills J. Baxter $4,813 for realty services performed.
27 Pays $1,471 on the balance related to the transaction of October 3.
30 Pays the administrative assistant $3,343 in salary for October.

 

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