C. Gharpurey, Inc., had the following transactions during the year. Classify each transaction as (O) an operating
Question:
1. Paid $ 4,500 interest.
2. Repaid the principal of a mortgage of $ 42,000.
3. Paid $ 5,000 for rent.
4. Paid $ 6,800 for computer equipment.
5. Sold equipment for $ 7,000.
6. Extended a customer’s note of $ 1,600.
7. Purchased a bond for $ 10,000.
8. Paid $ 4,000 of federal income taxes.
9. Received cash from customers of $ 73,000.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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