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the other answer i saw doesnt help me at all can you help with this transaction Now that you have reviewed information about Intermaweb Computer,

the other answer i saw doesnt help me at all can you help with this transaction
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Now that you have reviewed information about Intermaweb Computer, you are ready to begin the first ste 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 June: Week 1 Date Transaction description 1 Issued Check No. 840 for $9,600 to pay Blue Blazer Realty for two month's worth of rent in advance. 1 Obtained a loan of $58,000 from EastPac Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2022 and the principal of the loan is to be repaid on June 1,2026. 2 Paid the full amount owing to Pony, Check No. 841. 4 Handys Electronics paid the full amount owing on their account. 4 Made payment of $934 to Integer Energy for 3 months of electricity up to and including May 31 , Check 4 Paid sales staff wages of $12,731 for the week up to and including yesterday, Check No. 843. Note that $6,625 of this payment relates to the wages expense incurred during the last week of May. 5 Issued Check No. 844 to Office Supplies Warehouse for the purchase of $525 worth of office supplies. 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 columns 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 2 for details of what is to be posted daily or monthly. Instructions for week 1 1) Record all week 1 transactions in the relevant journals. Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal should be recorded in the general journal. 2) Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedurest? Note that the relevant totals of the special journals will be posted to the general ledger accounts at the end of the month. You will enter this before you prepare the Bank Reconciliation Statement. Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the cash amount, subtract the discount from the original amount. Proceods of checks will not be avaliable until cleared Al entries for the iast besiness day are subject to verification and authorzation. Any items not paid, or withdrewn, wil be acjusted by reversal entry on a later statement NSF means Not-Sufficient-Funds

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