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Exercise 6-3 E6-3 (Various Entries) Record the following transactions in...

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Accounting

Exercise 6-3
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E6-3 (Various Entries) Record the following transactions in General Ledger accounts of the General Fund of Fergieville 1. Incurred salaries of $300,000, $280,000 of which was paid. 2. A long-term note ($400,000 face value) matured. The interest of $40,000 was paid but the principal was not. 3. Purchased computers with a cost of $45,000; $22,000 was paid; the balance is due and is 4. Purchased materials for cash, $19,000. Assume purchases method of accounting for inventory 5. Received bill from the water and sewer department for services, $7,500; $4,000 was paid. cted to be paid at the end of the first quarter of the next fiscal year Ordered, but have not yet received, materials costing $70,000. Paid required annual contribution topension plan, $250,000. 8. Determined that the Capital Projects Fund should be reimbursed $3,000 for wages that should have been charged to General Fund departments but were paid from the Capital Projects Fund. pen 9. Repaid a six-month note (face value, $50,000) and interest on the note ($2.500), 1 0 Paid $75,000 to the Golf Course Enterprise Fund to cover its operating deficit for the year. d tha followine 20x8 transactions in the Town of Colin

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