Question

A variety of transactions follows. Identify each transaction as an operating (O), investing (I), financing (F), or other noncash (NC) event. Put the correct letter( s) in the space provided.
________ A. Borrowed $ 50,000 on a long- term note payable.
________ B. Made a sale for $ 2,500 on open account.
________ C. Reclassified as a short-term liability the long- term notes payable of $ 30,000 now due within one year.
________ D. Purchased a building for $ 120,000 with a $ 20,000 cash down payment and signed a long- term note payable for the balance.
________ E. Paid the maturity value of $ 1,050 on a short- term note payable with a face value of $ 1,000.
________ F. Wrote off $ 500 in uncollectible accounts receivable.
________ G. Paid the liability for accrued wages payable of $ 700 as well as the current period’s wages of $ 4,500.
________ H. Paid $ 2,000 on accounts payable.
________ I. Sold marketable securities that cost $ 12,000 for $ 12,750.
________ J. Issued 200 shares of $ 5 par value common stock in payment for equipment having a fair market value of $ 17,400.


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  • CreatedMarch 25, 2015
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