Entrepreneurs Consultants, a state agency, was established to provide consulting services to small businesses. It maintains only a single general fund and accounts for its activities on a modified accrual basis.

During its first month of operations, the association engaged in, or was affected by, the following transactions and events:

1. It received an unassigned grant of $100,000.
2. It purchased five computers at $2,000 each.
3. It paid wages and salaries of $6,000.
4. It borrowed $24,000 from a bank to enable it to purchase an automobile. It gave the bank a longterm note.
5. It purchased the automobile for $24,000.
6. It made its first payment on the noteinterest of $200.
7. It destroyed one of its computers in an accident. The computer was not insured. Prepare journal entries in the general fund to record each of the transactions or other events.