Purchased Coffee Cup Lids from Abejundio Coffee for $160, terms net 30. 1 Purchased Gourmet Cubed Sugar from Brazil Imports Group for $200, terms 2/10, n/30. H Obtained a loan of $55,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 20XX and the principal of the loan is to be repaid at the beginning of June four years later. 2 Paid the full amount owing to East Tangiers Co-op., Cheque No. 903. Payment fell within discount period. 2 Paid the full amount owing to Buena Vista Coffee, Cheque No. 904. Payment fell within discount period. 3 Purchased Gourmet Cream with cash for $220, Cheque No. 905. 4 Made cash sales of $5,961 during the first 4 days of the month. SAJ P