Chapter 3, Problem 8E

(General Ledger Entries) Record the following transactions in the General Ledger accounts of the General Fund of the Keffer Independent School District.

1. 1. Ordered textbooks with an estimated cost of $80,000.
2. 2. Ordered laboratory supplies with an estimated cost of $25,000.
3. 3. Signed a contract with Victory Transportation Services for athletic team transportation. The estimated total cost of the services was $7,000.
4. 4. Hired a new clerk and approved a salary of $18,000 per year.
5. 5. The textbooks were received at an actual cost of $80,400. The invoice was approved for payment.
6. 6. Approximately half of the laboratory supplies were received and vouchered at an actual cost of $12,000. (Estimated cost was $12,400.)
7. 7. Actual transportation costs billed to Keffer School District by Victory Transportation Services were $8,000.