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Week 1' \"3" Transaction description 1 1 1 Purchased 12 boxes of copies of Human Ranch from Stompson for $320 each, terms net 30. Paid the full amount owing to Deterministic Garage, Check No. 762. Payment fell outside discount period. Purchased 21 boxes of copies of The Breeze on the Pillows with cash for $200 each, Check No. T63. Obtained a loan of $50,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be ropaid on June 1, 2024. Purchased 14 boxes of copies of The idiot's Guide to Writing Books for Dummies from Peachson for $320 each, terms 2f10, nf30 Sold 20 boxes of copies of Human Ranch to Hoarders for $520 each, plus 5% sales tax, Invoice No. 306. Made cash sale of 77 boxes of copies of The Breeze on the Pillows for $400 each plus 5% sales tax. Paid sales staff wages of $4,217 for the week up to and including yesterday, Check No. 764. Note that $2,000 of this payment relates to the wages expense incurred during the last week of May. Paid the full amount owing to Bookheamoth, Check No. 705. Payment fell outside discount period. SALES JOURNAL Cost of Date Account Invoice Post Accounts NO Receivable Sales Tax Sales Ref. Revenue Goods Sold Jun (select) Jun Select Jun select) Jur (select (Q=302.purchasesJournalWeek1) PURCHASES JOURNAL Date Account Terms Post Accounts Ref. Payable Jun Office Supplies selectl Y 3840 Jun Office Supplies select) 763 Jun Jun select! (Q=303.cashReceiptsJournalWeek1) CASH RECEIPTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account credited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column. Post Debit Credit Cost of Date Account Ref. Goods Cash Sales Saves Accounts Other Revenue Tax Receivable Accounts Sold Jur Cash 50000 50000 Jun [select Jun Jun [select) Jun Jun [select) (Q=304.cashPaymentsJournalWeek1) CASH PAYMENTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', as indicated under the additional instructions above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate account debited in these transactions into the Account column so that the type of transaction can be determined by the name of the account entered into this column. Debit Credit Date Account Check Post No. Ref. Accounts Merchandise Wages Other Payable Inventory Expense Accounts Cash Jun Cash (select) 763 304-1 4200 Jun Jur select Jun Select Jun (select) Jun select)GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun Select select Jun (select Select Jun select Belecal (Q=310-110-3.AcctsRec3_week1)
