Biology Forums - Study Force

The following transactions and events were selected from a federal agency. All amounts are in millions of dollars.

Transactions:

1.   Received a warrant from Treasury for its appropriation for the fiscal year, $300.
2.   The OMB apportioned $80 to the agency.
3.   The agency head allotted $79 to specific purposes.
4.   Preliminary requests were made within the agency for the purchase of $8 in supplies.
5.   Purchase orders were approved and placed for the $8 of supplies requested.
6.   Salaries of $40 were paid to agency employees.
7.   Equipment with an estimated cost of $17 was ordered.
8.   The equipment was received along with an invoice for its $17 cost.

Requirement:   Prepare the entries a federal agency should make to record these transactions and events.

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