Oct. 1 diane lexington begins business as a real estate agent with a cash investment of $28,022 in exchange for common stock. 2 hires an administrative assistant. 3 purchases office furniture for $3,223, on account. 6 sells a house and lot for n. fennig; bills n. fennig $5,044 for realty services performed. 27 pays $1,191 on the balance related to the transaction of october 3. 30 pays the administrative assistant $3,503 in salary for october.

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.