Date

Transaction description

1

Obtained a loan of $41,000 from Earth Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be repaid on June 1, 2023.

3

Paid the full amount owing to Big Telco, Check No. 903. Payment fell within discount period.

5

Purchased 3 Mieca Camera Lenses from Mega Tech for $240 each, terms net 30.

5

Sold 6 Swish Phones to Hypertronics for $190 each, Invoice No. 201.

6

Paid the full amount owing to Moon Megasystems, Check No. 904. Payment fell within discount period.

6

Made cash sales of $8,811 during the first 6 days of the month.

6

Purchased 3 NR759 Video Recorders with cash for $190 each, Check No. 905.

June 07. / Purchased 7 Swish Phones from JCN Electrical for $90 each, terms 2/10, n/30.

SALES JOURNAL

Date		Account	Invoice No.	Post Ref.	Amount
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)

(Q=302.purchasesJournalWeek1)

PURCHASES JOURNAL

Date		Account	Terms	Post Ref.	Amount
Jun		(select)	terms...net 30net 72/10 n/30
Jun		(select)	terms...net 30net 72/10 n/30
Jun		(select)	terms...net 30net 72/10 n/30
Jun		(select)	terms...net 30net 72/10 n/30

(Q=303.cashReceiptsJournalWeek1)

CASH RECEIPTS JOURNAL

Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account credited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column.

Date		Account	Post Ref.	Debit		Credit
				Cash	Sales Discounts	Sales Revenue	Accounts Receivable	Other Accounts
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)

(Q=304.cashPaymentsJournalWeek1)

CASH PAYMENTS JOURNAL

Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account debited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column.

Date		Account	Check No.	Post Ref.	Debit			Credit
					Accounts Payable	Purchases	Other Accounts	Cash	Purchase Discounts
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)
Jun		(select)

(Q=305.generalJournalWeek1)

GENERAL JOURNAL

Date		Account and Explanation	Post Ref.	Debit	Credit
Jun		(select)
		(select)
Jun		(select)
		(select)
Jun		(select)
		(select)