It is now May 7, 2017

You find a note on your desk from Rinaldo instructing you to record a list of transactions that occurred during the first week of May as follows:

Transactions from early May 2017

May 1 Obtained a loan of $16,000 from Uncle Oswald (a family relative of Rinaldo Jensen) at a simple interest rate of 8% per year, Check No. 153, Receipt No. 6311. The principal and interest on the loan are payable in six months time.

May 3 Issued Check No. 4096 for $8,534 to Big Telco in payment of Invoice No. 787.

May 3 Received Check No. 235 from Radio Hut for the full amount outstanding on their account, Receipt No. 6312.

May 3 Issued Check No. 4097 for $1,300 to Discount Office Supplies for the purchase of office supplies.

May 4 Purchased 7 units Tony ZIO MLP projectors from Mega Tech at $1,420 each, Invoice No. 848. Issued Check No. 4098 for $4,400 to this supplier at the time of the purchase.

May 5 Sold the following items on credit to Handys Electronics, Invoice No. 3059:

3 units DK800 desktop computers for $1,700 each plus 5% sales tax

4 units Zii game consoles for $1,300 each plus 5% sales tax.

$2,900 was received immediately, Check No. 628, with the remainder due to be received in 30 days time.