The journal entries for Aubut Real Estate Agency were prepared in E3-9.
Oct. 1 Issued common shares in exchange for $15,000 cash.
2 Hired an administrative assistant at an annual salary of $30,000. The assistant will start work on October 5.
5 Purchased furniture for $3,000, paying $500 cash and the balance on account.
6 Sold a house and lot for F. Omana. Commission due is $6,500 (not paid by Omana at this time).
9 Received $250 cash commission for renting an apartment.
15 Paid $700 for advertising costs relating to the first half of October.
24 Paid $2,500 on account for the furniture purchased on October 5.
30 Paid the administrative assistant $2,500 salary for October.
31 Received cash of $6,500 from F. Omana owed from October 6.
Instructions
(a) Post the transactions to T-accounts.
(b) Prepare a trial balance at October 31, 2012.
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