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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalize the transactions.
The following information relates to Sheffield Real Estate Agency. **October Transactions:** 1. **Oct. 1:** James Sheffield begins business as a real estate agent with a cash investment of $16,950. 2. **Oct. 2:** Hires an administrative assistant. 3. **Oct. 3:** Purchases office furniture for $2,147, on account. 4. **Oct. 6:** Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services performed. 5. **Oct. 27:** Pays $1,243 on the balance related to the transaction of October 3. 6. **Oct. 30:** Pays the administrative assistant $2,825 in salary for October. **Instructions:** - Journalize the transactions as per the provided details. - Credit account titles are automatically indented when an 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 0 for the amounts. **Journal Entry Template:** | Date | Account Titles and Explanation | Debit | Credit | |------|--------------------------------|-------|--------| | | | | |
Transcribed Image Text:The following information relates to Sheffield Real Estate Agency. **October Transactions:** 1. **Oct. 1:** James Sheffield begins business as a real estate agent with a cash investment of $16,950. 2. **Oct. 2:** Hires an administrative assistant. 3. **Oct. 3:** Purchases office furniture for $2,147, on account. 4. **Oct. 6:** Sells a house and lot for C. Rouse; bills C. Rouse $4,068 for realty services performed. 5. **Oct. 27:** Pays $1,243 on the balance related to the transaction of October 3. 6. **Oct. 30:** Pays the administrative assistant $2,825 in salary for October. **Instructions:** - Journalize the transactions as per the provided details. - Credit account titles are automatically indented when an 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 0 for the amounts. **Journal Entry Template:** | Date | Account Titles and Explanation | Debit | Credit | |------|--------------------------------|-------|--------| | | | | |
The image appears to be a blank checklist or form template. It consists of rows with empty checkboxes on the left side, followed by empty text fields that span across the page. Each row has one checkbox and three text fields aligned horizontally. There are a total of 12 rows. ### Description for Educational Website: #### Checklist Form Template This image shows a basic checklist or form template designed for user input. - **Checkboxes**: Located on the left side of each row, these can be used for selecting options or marking tasks as completed. - **Text Fields**: Three consecutive horizontal boxes follow the checkboxes in each row, intended for detailed descriptions or responses. This template is suitable for various educational activities such as: - Task lists - Survey forms - Classroom management - Organizing project details Educators can customize this template to fit their specific needs, adding text or other elements as required.
Transcribed Image Text:The image appears to be a blank checklist or form template. It consists of rows with empty checkboxes on the left side, followed by empty text fields that span across the page. Each row has one checkbox and three text fields aligned horizontally. There are a total of 12 rows. ### Description for Educational Website: #### Checklist Form Template This image shows a basic checklist or form template designed for user input. - **Checkboxes**: Located on the left side of each row, these can be used for selecting options or marking tasks as completed. - **Text Fields**: Three consecutive horizontal boxes follow the checkboxes in each row, intended for detailed descriptions or responses. This template is suitable for various educational activities such as: - Task lists - Survey forms - Classroom management - Organizing project details Educators can customize this template to fit their specific needs, adding text or other elements as required.
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