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Thiss information relates to McCall Real Estate Agency.

Oct. 1 Stockholders invest $ 33,380 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $ 37,320.
3 Buys office furniture for $4,060, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,630 (not paid by Roads at this time).
10 Receives cash of $240 as commission for acting as rental agent renting an apartment.
27 Pays $680 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $ 3,110 in salary for October.

Required:
Journalize the transactions.

Respuesta :

Tundexi

Let understand that "journal" means a detailed account used to records all the financial transactions of a business.

  • The journal have a debit and credit.

Here, a "general journal account" will be employed to contain the list of information from McCall Real Estate Agency.

                                Journal Entry

Date       Account titles                     Debit      Credit

Oct 01     Cash                                $33,380

                      Common Stock                         $33,380

Oct 02 No Entry                          $0

               No Entry                                                  $0

Oct 03     Furniture                         $4,060

                    Account Payable                          $4,060

Oct 06    Accounts receivable        $10,630

                     To Service revenue                     $10,630

Oct 10    Cash                                    $240

                     To Service revenue                      $240

Oct 27    Account Payable                $680

                     To Cash                                          $680

Oct 30 Salary expense                  $3,110

                     To Cash                                          $3,110

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