Journal entries and trial balance On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following
transactions during the month:
A.
Jay Crowley transferred cash from a personal bank account to an account to be used for the business in
exchange for common stock, $40,000.
B. Paid rent on office and equipment for the month, $4,800.
C. Purchased supplies on account, $2,150.
D. Paid creditor on account, $1,100.
E. Earned sales commissions, receiving cash, $18,750.
F.
Paid automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $800.
G. Paid office salaries, $3,500.
H. Determined that the cost of supplies used was $1,300.
Paid dividends, $1,500.