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Question - Presented below is information related to Conan Real Estate Agency.
Oct. 1 Arnold Conan begins business as a real estate agent with a cash investment of $18,000 in exchange for common stock.
Oct. 2 Hires an administrative assistant.
Oct. 3 Purchases office equipment for $1,700, on account.
Oct. 6 Sells a house and lot for B. Clinton; bills B. Clinton $4,200 for realty services performed.
Oct. 27 Pays $900 on the balance related to the transaction of October 3.
Oct. 30 Pays the administrative assistant $2,800 in salary for October.
Required - Prepare a tabular summary of the transactions. Include margin explanations for any changes in revenues or expenses.
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