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Exercise 3-8

Your answer is correct.

 
 

This information relates to Plunkett Real Estate Agency.

Oct. 1
 
Stockholders invest $30,990 in exchange for common stock
of the corporation.

2
 
Hires an administrative assistant at an annual salary of
$33,840.

3
 
Buys office furniture for $4,200, on account.

6
 
Sells a house and lot for M.E. Petty; commissions due from
Petty, $10,570 (not paid by Petty at this time).

10
 
Receives cash of $210 as commission for acting as rental
agent renting an apartment.

27
 
Pays $740 on account for the office furniture purchased on
October 3.

30
 
Pays the administrative assistant $2,820 in salary for
October.

Journalize the transactions. (If no entry is
required, select “No entry” for the account titles and enter 0 for
the amounts. Credit account titles are automatically indented when
amount is entered. Do not indent
manually.)

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