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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
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 expected to be paid at the end of the first quarter of the next fiscal year. 4. Purchased materials for cash, $19,000. Assume use of the purchases method of accounting. 5. Received bill from the water and sewer department for services. $7.500, $4,000 was paid 6. Ordered, but have not yet received, materials costing $70,000. 7. Paid required annual contribution to pension 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 9. Repaid a 6-month note (face value, $50,000) and interest on the note ($2.500) 10 Paid $75,000 to the Golf Course Enterprise Fund to cover its operating deficit for the year
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