Posting Transactions to T-accounts Using the data from short exercise SE2-6, prepare journal entries and post your transaction analysis to the appropriate T-accounts.

Exercise SE2-6

Recording Transactions with the Accounting Equation During the year, the Flight Company experienced the following accounting transactions:

1. Issued common stock in the amount of \(\$ 150,000\)

2. Paid a \(\$ 30,000\) cash dividend 3. Borrowed \(\$ 25,000\) from a bank 4. Made a principal payment of \(\$ 3,500\) on an outstanding bank loan 5. Made an interest payment of \(\$ 1,200\) on an outstanding bank loan Using the accounting equation, record each of the transactions in columnar format using the following template:

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Assets Cash Liabilities Stockholders' Equity Notes Payable Common Stock + Retained Earnings