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Issued Check No. 868 for $8,200 to pay Blue Blazer Realty for two month's worth of rent in advance. 1 Obtained a loan of $48,000

Issued Check No. 868 for $8,200 to pay Blue Blazer Realty for two month's worth of rent in advance.

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 June 1, 2023.

2

Paid the full amount owing to Addax Sports, Check No. 869.

2

Issued Check No. 870 to Office Supplies Warehouse for the purchase of $580 worth of office supplies.

4

Made payment of $840 to State Power for 3 months of electricity up to and including May 31, Check No. 871.

4

Paid sales staff wages of $1,879 for the week up to and including yesterday, Check No. 872. Note that $1,135 of this payment relates to the wages expense incurred during the last week of May.

5

Jump Around paid the full amount owing on their account.

(Q=310-110-5.AcctsRec5_week1)

(Q=320-100.Cash_week1)

GENERAL LEDGER

Account: Cash Account No. 100

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

74,032 DR

Jun

Jun

Jun

(Q=320-110.AcctsRecControl_week1)

Account: ARC - Accounts Receivable Control Account No. 110

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

33,880 DR

Jun

Jun

Jun

(Q=320-130.StoreSupplies_week1)

Account: Office Supplies Account No. 130

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

2,389 DR

Jun

Jun

Jun

(Q=320-140.PrepaidRent_week1)

Account: Prepaid Rent Account No. 140

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-210.AcctsPayControl_week1)

Account: APC - Accounts Payable Control Account No. 210

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

44,436 CR

Jun

Jun

Jun

(Q=320-220.WagesPayable_week1)

Account: Wages Payable Account No. 220

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

1,135 CR

Jun

Jun

Jun

(Q=320-221.ElectricityPayable_week1)

Account: Electricity Payable Account No. 221

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

915 CR

Jun

Jun

Jun

(Q=320-250.LoanPayable_week1)

Account: Bank Loan Payable Account No. 250

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-400.SalesRevenue_week1)

Account: Sales Revenue Account No. 400

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-402.SalesDisc_week1)

Account: Sales Discounts Account No. 402

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-500.CostOfSales_week1)

Account: Cost of Goods Sold Account No. 500

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-516.WagesExpense_week1)

Account: Wages Expense Account No. 516

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-541.ElectricityExpense_week1)

Account: Electricity Expense Account No. 541

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

(Q=320-544.SuppliesExpense_week1)

Account: Office Supplies Expense Account No. 544

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

0

Jun

Jun

Jun

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