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Exercise 2-5 The following information relates to Sanculi Real Estate Agency. Oct. 1 Alan Sanculi begins...

Exercise 2-5 The following information relates to Sanculi Real Estate Agency. Oct. 1 Alan Sanculi begins business as a real estate agent with a cash investment of $19,800. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,508, on account. 6 Sells a house and lot for R. Craig; bills R. Craig $4,752 for realty services performed. 27 Pays $1,452 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,300 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit

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Answer #1
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash 19800
Sanculi, capital 19800
(To record investment in business)
Oct. 2 No Entry 0
No Entry 0
Oct. 3 Office Furniture 2508
Accounts payable 2508
(To record furniture purchased on account)
Oct. 6 Accounts receivable 4752
Realty services revenue 4752
(To record service revenue earned)
Oct. 27 Accounts payable 1452
Cash 1452
(To record payment on account)
Oct. 30 Salary expense 3300
Cash 3300
(To record salary paid)
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