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This information relates to Pickert Real Estate Agency Oct. 1 Stockholders invest RM30,000 in exchange for common stock of the corporation. 2 3 6 10 27 30 Hires an administrative assistant at an annual salary of RM42,000. Buys office furniture for RM4,600 on account. Sells a house and lot for M.E Petty; commissions due from Petty, RM10,800 (not paid by Petty at this time). Receives cash of RM140 as commission for acting as rental agent renting an apartment. Pays RM700 on account for the office furniture purchased on October 3. Pays the administrative assistant RM3,500 in salary for October.
Instructions: a. Prepare the debit-credit analysis for each transaction. b. Journalize the transactions. c. Post the transactions to T accounts d. Prepare a Trial Balance at October 31, 2010.