Date Transaction description 1 Obtained a loan of $44,000 from Earth Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2023 and the principal of the loan is to be repaid on June 1, 2027. 2 Purchased 10 Swish Phones from Pony for $420 each, terms net 30. Purchased 25 Tony ZIO MLP Projectors with cash for $320 each, Check No. 861. Purchased 12 MePod Multimedia Players from Pear Technology for $640 each, terms 2/10,n/30 Paid sales staff wages of $12,939 for the week up to and including yesterday, Check No. 862. Note that $6,500 of this payment relates to the wages expense incurred during the last week of May. 6 Paid the full amount owing to Mega Tech, Check No. 863. Payment fell outside discount period. Sold 14 Swish Phones to Radio Hut for $720 each, plus 5% sales tax, Invoice No, 431. Made cash sale of 10 Tony ZIO MLP Projectors for $640 each plus 5% sales tax. Paid the full amount owing to JCN Electrical, Check No. 864. Payment fell outside discount period. Account: Cash Account No. 100 Account: ARC - Accounts Receivable Control Account No. 110 Account: Merchandise Inventory Account No. 120 Account: APC - Accounts Payable Control Account No. 210 Account: Wages Payable Account No. 220 Account: Sales Tax Payable Account No. 240 Account: Bank Loan Payable Account No, 250 Account: Sales Revenue Account No. 400 Account: Cost of Goods Sold Account No. 500 Account: Wages Expense Account No. 516