Chapter 4, Problem 6E

(Expenditure Accounting Entries) Record the following transactions of the General Fund of Kinlaw County in its General Ledger. Also, use transaction analysis to show any effects on the GCA-GLTL accounts.

1. 1. Payroll was approved and paid, $630,000.
2. 2. Materials and supplies were purchased for the Fire Department on account, $13,200.
3. 3. Recreational equipment was purchased on account for $77,850.
4. 4. The General Fund was billed $700 by the Electric Utility Enterprise Fund for electricity for the month.
5. 5. Payments were approved and made for the recreational equipment and the electricity, $78,550. 6. Accrued, unpaid payroll at year end amounted to $2,700.