Date

Transaction description

1

Obtained a loan of $48,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2018 and the principal of the loan is to be repaid on 1 June 2021.

2

Sold 9 boxes of Sprearmint Gum to Sweet Tooth for $100 each, Invoice No. 201.

3

Purchased 17 boxes of Sprearmint Gum from Brennan Imports Group for $60 each, terms net 30.

3

Paid the full amount owing to Restlay, Cheque No. 903. 2942Payment fell within discount period.

4

Paid the full amount owing to Gillard Wholesalers, Cheque No. 9042261. Payment fell within discount period.

4

Made cash sales of $5,896 during the first 4 days of the month.

4

Purchased 17 boxes of Hazelnut Toffee with cash for $50 each, Cheque No. 905.

5

Purchased 22 boxes of Party Mix from East Tangiers Cooperative for $40 each, terms 2/10, n/30.

GENERAL JOURNAL

Date		Account and Explanation	Post Ref.	Debit	Credit
Jun
Jun
Jun