The following information relates to Sheffield Real Estate Agency. Oct. James Sheffield begins business as a real estate agent with a cash investment of $ 1 16,950. Hires an administrative assistant. 3 Purchases office furniture for $ 2,147, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services performed. 27 Pays $ 1,243 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $ 2,825 in salary for October. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented
The following information relates to Sheffield Real Estate Agency. Oct. James Sheffield begins business as a real estate agent with a cash investment of $ 1 16,950. Hires an administrative assistant. 3 Purchases office furniture for $ 2,147, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services performed. 27 Pays $ 1,243 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $ 2,825 in salary for October. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Journalize the transactions.
![The following information relates to Sheffield Real Estate Agency.
Oct.
James Sheffield begins business as a real estate agent with a cash investment of $
1
16,950.
2
Hires an administrative assistant.
3
Purchases office furniture for $ 2,147, on account.
Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services
performed.
27
Pays $ 1,243 on the balance related to the transaction of October 3.
30
Pays the administrative assistant $ 2,825 in salary for October.
Journalize the transactions. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries in the order presented
in the problem. If no entry is required, select "No Entry" for the account titles and enter
O for the amounts.)
Date
Account Titles and Explanation
Debit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f8ae9c7-6339-4fe2-8260-2babeff86d98%2Fcbc11e1d-94ed-4c79-97b8-e56c17515f18%2Fvv25hv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information relates to Sheffield Real Estate Agency.
Oct.
James Sheffield begins business as a real estate agent with a cash investment of $
1
16,950.
2
Hires an administrative assistant.
3
Purchases office furniture for $ 2,147, on account.
Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services
performed.
27
Pays $ 1,243 on the balance related to the transaction of October 3.
30
Pays the administrative assistant $ 2,825 in salary for October.
Journalize the transactions. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries in the order presented
in the problem. If no entry is required, select "No Entry" for the account titles and enter
O for the amounts.)
Date
Account Titles and Explanation
Debit
![](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f8ae9c7-6339-4fe2-8260-2babeff86d98%2Fcbc11e1d-94ed-4c79-97b8-e56c17515f18%2F5mou6wv_processed.jpeg&w=3840&q=75)
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