Purchased 10 Zi Game Consoles from Moon Megasystems for $640 each, terms net 30. Purchased 22 Tony ZIO MLP Projectors with cash for $400 each, Check No. 635. 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 2017 and the principal of the loan is to be repaid on June 1, 2021. Purchased 19 BlueBerry Phones from Pear Technology for $560 each, terms 2/10, n/30 Paid the full amount owing to JCN Electrical, Check No. 636. Payment fell outside discount period. Paid sales staff wages of $13, 036 for the week up to and including yesterday, Check No. 637. Note that $6, 500 of this payment relates to the wages expense incurred during the last week of May. Paid the ful amount owing to Mega Tech, Check No. 638. Payment fell outside discount period. sold 16 Zi Game consoles to Radio Hut for $1, 040 each, plus 5% sales tax, Invoioe No. 240. Made cash sale of 9 Tony ZIO MLP Projectors for $720 each plus 5% sales tax. After completing this practice set page, you should know how to record basic transactions in the journals provided below and understand the posting process in the manual accounting system. Note that you will record the remaining June transactions in the following sections of this practice set. Remember, one purpose of using special journals is to make the posting process more efficient by posting the total of most in the special journals after all of the transactions for the period have been recorded. However, some parts of a journal entry are still required to be posted on a daily basis. View the company's accounting policies and procedures for details of what is to be posted daily or monthly