Posting Transactions to T-accounts During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $50,000 2. Paid a $15,000 cash dividend 3. Borrowed $12,500 from a bank 4. Made a principal payment of $1,250 on an outstanding bank loan 5. Made an interest payment of $600 on an outstanding bank loan Prepare journal entries and post your transaction analysis to the appropriate T-accounts. HINT: When posting the journal entries to the T-accounts, enter them in order. General Journal Ref. 1. 2. 3. 4. 5. Description Cash + + ◆ → ⇒ 42 → (2 - << + Common Stock Debit Credit Notes Payable Retained Earnings

Posting Transactions to T-accounts During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $50,000 2. Paid a $15,000 cash dividend 3. Borrowed $12,500 from a bank 4. Made a principal payment of $1,250 on an outstanding bank loan 5. Made an interest payment of $600 on an outstanding bank loan Prepare journal entries and post your transaction analysis to the appropriate T-accounts. HINT: When posting the journal entries to the T-accounts, enter them in order. General Journal Ref. 1. 2. 3. 4. 5. Description Cash + + ◆ → ⇒ 42 → (2 - << + Common Stock Debit Credit Notes Payable Retained Earnings

Name: am. 110. Posting Transactions to T-accountsDuring the year, the Decker
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Description: am. 110. Posting Transactions to T-accountsDuring the year, the Decker Company experienced the following accounting transactions:1. Issued common stock in the amount of $50,0002. Paid a $15,000 cash dividend3. Borrowed $12,500 from a bank4. Made a pr

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 3CE

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