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Looking for a solution to the following: Week 1 Date Transaction description 1 Obtained a loan of $52,000 from ZNZ Bank at a simple interest
Looking for a solution to the following:
Week 1 | ||
Date | Transaction description | |
1 | Obtained a loan of $52,000 from ZNZ Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2021 and the principal of the loan is to be repaid on June 1, 2025. | |
2 | Purchased 24 NR759 3D-HD Recorders with cash for $500 each, Check No. 611. | |
3 | Purchased 16 DK800 Desktop Computers from JCN Electrical for $1,380 each, terms 2/10, n/30 | |
4 | Purchased 19 Zii Game Consoles from Pear Technology for $720 each, terms net 30. | |
4 | Paid the full amount owing to Mega Tech, Check No. 612. Payment fell outside discount period. | |
4 | Paid sales staff wages of $13,251 for the week up to and including yesterday, Check No. 613. Note that $6,500 of this payment relates to the wages expense incurred during the last week of May. | |
5 | Sold 14 Zii Game Consoles to Handys Electronics for $1,220 each, plus 5% sales tax, Invoice No. 318. | |
5 | Made cash sale of 13 NR759 3D-HD Recorders for $1,100 each plus 5% sales tax. | |
7 | Paid the full amount owing to Moon Megasystems, Check No. 614. Payment fell outside discount period. |
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