Unformatted text preview: 5) Paid the assistant’s salary of $1500 cash. 6) Purchased 5 software packages for $20 each from a supplier on credit. 7) Paid insurance for three months (January, February and March) totaling $450 ($150 per month) cash 8) Spent $50 on dinner with a client. 9) Paid loan payment of $200: $50 interest, $150 principle 10) Paid rent of $500 11) Did consulting work and received $2000 cash 12) Paid $100 on the Short Term note. 13) Booked $50 of deprecation for the period 14) Receive another long term loan for $2000 15) Kirk withdrew $100 from the business for his owe use. 16) Kirk paid $500 to the bank in order to pay off a long term loan. Because he paid it early, he was also charged $50 as an early payment penalty. This penalty he paid in cash....
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- Spring '08
- Balance Sheet, Generally Accepted Accounting Principles, long term loan, Kirk Flores