FRAMED (Posting Entries #3)
  Name
# =
0 1000 500 200 100 6000 -1600 = 300 100 1500 4000 300 Beg Bal
1 =
2 =
3 =
4 =
5 =
6 =
7 =
8 =
9 =
10 =
Enter amounts for each numbered transaction below in the correct line number and accounts above

1. Repaid $500 of the Long-term debt.
2. Paid $50 interest expense on the debt.
3. Wrote-off $100 as Bad Debt Expense for uncollectible accounts receivable.
4. Purchased $5000 of equipment on a long-term contract.
5. Received $200 for the sale of old equipment that had cost $1000. Wrote-off $600 of related
    accumulated depreciation and recognized a loss on the sale. (4 entries required)
6. Received $2000 from customers for services performed.
7. Paid rent expense of $200.
8. Paid salaries and wages of $1000.
9. Recorded Income Tax Expense of $300 that was owed, but not yet paid.
10. Transferred $100 from cash into marketable securities for short-term investment.
      After posting all the transactions to the accounts click on "Calc" to find your score.
Copyright 2011 © Gaylen K. Bunker, All rights reserved