Now that you have reviewed information about Bean Counters Coffeehouse, you are ready to begin the first step in the accounting cycle, recording transactions On this page of the practice set, you are asked to record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts The following transactions occurred throughout the first week of June Week 1 Date Transaction description 1 Obtained a loan of $42,000 from ZNZ 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, 2026 2 Purchased 3 bags of Kopi Luwak Coffee Beans from Klam Wholesalers for $590 each, terms 2 10, n 30 2 Purchased Assorted Gourmet Coffee Beans with cash for $585, Check No 903 3 Paid the full amount owing to Buena Vista Coffee, Check No 904 Payment fell within discount period 4 Purchased 8 bags of Medium Roast Robusta Coffee Beans from Jordo Gourmet Coffee for $239 each, terms net 30 5 Paid the full amount owing to East Tangiers Co op , Check No 905 Payment fell within discount period 5 Made cash sales of $6,709 during the first 5 days of the month 6 Sold Chocolate Sprinkles to Revamp Coffee Carts for $380, Invoice No 201 SUBSIDIARY LEDGERS Account ARC Revamp Coffee Carts Account No 110 3 Account APC Klam Wholesalers Account No 210 1 Account APC East Tangiers Co op Account No 2102 Account APC Jordo Gourmet Coffee Account No 210 3 Account APC Buena Vista Coffee Account No 210 4 GENERAL LEDGER Account Cash Account No 100 Account ARC Accounts Receivable Control Account No 110 (Q 320120 Inventory week 1) Account Merchandise Inventory Account No 120 (Q 320210 AcctsPayControl week 1 ) Account APC Accounts Payable Control Account No 210 SUBSIDIARY LEDGERS Account ARC Revamp Coffee Carts Account No 110 3 Account APC Klam Wholesalers Account No 210 1 Account APC East Tangiers Co op Account No 2102 Account APC Jordo Gourmet Coffee Account No 210 3 Account APC Buena Vista Coffee Account No 210 4 GENERAL LEDGER Account Cash Account No 100 Account ARC Accounts Receivable Control Account No 110 (Q 320120 Inventory week 1) Account Merchandise Inventory Account No 120 (Q 320210 AcctsPayControl week 1 ) Account APC Accounts Payable Control Account No 210

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Now that you have reviewed information about Bean Counters Coffeehouse, you are ready to begin the first step in the accounting cycle, recording transactions. On

Now that you have reviewed information about Bean Counters Coffeehouse, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts. The following transactions occurred throughout the first week of June:

Week 1
Date	Transaction description
1	Obtained a loan of $42,000 from ZNZ 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, 2026.
2	Purchased 3 bags of Kopi Luwak Coffee Beans from Klam Wholesalers for $590 each, terms 2/10, n/30.
2	Purchased Assorted Gourmet Coffee Beans with cash for $585, Check No. 903.
3	Paid the full amount owing to Buena Vista Coffee, Check No. 904. Payment fell within discount period.
4	Purchased 8 bags of Medium Roast Robusta Coffee Beans from Jordo Gourmet Coffee for $239 each, terms net 30.
5	Paid the full amount owing to East Tangiers Co-op., Check No. 905. Payment fell within discount period.
5	Made cash sales of $6,709 during the first 5 days of the month.
6	Sold Chocolate Sprinkles to Revamp Coffee Carts for $380, Invoice No. 201.

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SUBSIDIARY LEDGERS Account: ARC - Revamp Coffee Carts Account No. 110-3 Account: APC - Klam Wholesalers Account No. 210-1 Account: APC - East Tangiers Co-op. Account No. 2102 Account: APC - Jordo Gourmet Coffee Account No. 210-3 Account: APC - Buena Vista Coffee Account No. 210-4 GENERAL LEDGER Account: Cash Account No. 100 Account: ARC - Accounts Receivable Control Account No. 110 (Q=320120.Inventory_week 1) Account: Merchandise Inventory Account No. 120 (Q=320210. AcctsPayControl_week 1 ) Account: APC - Accounts Payable Control Account No. 210 SUBSIDIARY LEDGERS Account: ARC - Revamp Coffee Carts Account No. 110-3 Account: APC - Klam Wholesalers Account No. 210-1 Account: APC - East Tangiers Co-op. Account No. 2102 Account: APC - Jordo Gourmet Coffee Account No. 210-3 Account: APC - Buena Vista Coffee Account No. 210-4 GENERAL LEDGER Account: Cash Account No. 100 Account: ARC - Accounts Receivable Control Account No. 110 (Q=320120.Inventory_week 1) Account: Merchandise Inventory Account No. 120 (Q=320210. AcctsPayControl_week 1 ) Account: APC - Accounts Payable Control Account No. 210