2. The stock paid $2,000 in dividends each 12-month period. 3. The annuities payable account is adjusted to present value. At year-end, a payment of $6,000 is made to Professor Fields. 4. The...

2. The stock paid $2,000 in dividends each 12-month period.

3. The annuities payable account is adjusted to present value. At year-end, a payment of $6,000 is made to Professor Fields.

4. The annuities payable account is adjusted to present value. A second payment was made a year later.

5. A month later, Professor Fields died, eliminating the liability for future annuity payments.

6. The common stock was sold for $92,000. The cash balance was transferred to the student loan fund.