Date Transaction description 1 Obtained a loan of $44,000 from EastPac 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 1 June 2025. 3 Sold 9 boxes of Liquorice Chocolate to Sweet Tooth for $160 each, Invoice No. 201. 4 Purchased 10 boxes of Chocolate Coated Coffee Beans from Spud's Confectionery for $80 each, terms net 30. 4 Purchased 9 boxes of Pecan Fudge from Hershel's for $140 each, terms 2/10, n/30. 4 Paid the full amount owing to Restlay, Cheque No. 903. Payment fell within discount period. 4 Made cash sales of $6,528 during the first 4 days of the month. 5 Paid the full amount owing to East Tangiers Cooperative, Cheque No. 904. Payment fell within discount period. 7 Purchased 5 boxes of Mixed Truffles with cash for $100 each, Cheque No. 905.