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Transactions - week 1 Now that you have reviewed information about Hi-Fi Way, 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 $51,000 from BitiBank 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 repaid on June 1, 2024. Purchased 10 BlueBerry Phones from any for $90 each, terms 2/10, n/30. Sold 8 MePod Multimedia Players to Pikea for $180 each Invoice No. 201. Paid the full amount owing to Big Telco, Check No. 903. Payment fell within discount period. Made cash sales of $7,659 during the first 5 days of the month. Purchased 4 MX620 Notebook Computers from Pear Technology for $370 each, terms net 30. Paid the full amount owing to JCN Electrical, Check No.904. Payment fell within discount period. Purchased 7 Tony ZIO MLP Projectors with cash for $130 each, Check No. 905. - 7 Show All Special Journals General Journal Subsidiary Ledgers General Ledger SALES JOURNAL Date Account Invoice No. Post Ref. Amount Jun 3 APC - Big Telco (select) 903 Jun 4 ARC - Pikea select) 201 1440 Jun 5 Cash select) 904 - 7559 Jun Kselect) PURCHASES JOURNAL Dato Account Terms Post Ref. Amount Jun 2 APC - Pony (select) 2/10 n/30 900 Jun select) . (select) Jun Jun select . (9 CASH RECEIPTS JOURNAL 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 Dobit Credit Date Account Post Ref. Sales Cash Sales Accounts Other Discounts Revenue Receivable Accounts Jun Bank Loan Payable select) 51000 51000 Jun s Sales Revenue (select) dr 7569 Jun select) Jun (salt) Jun Jun (0-304.cas Payments.oumaWeek) 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 Date Account Check out No. Dobil Accounts Payable Purchases ON Account Credit Cash Archase Discount Jun Jun Jun Jun A dtv x] MERALD (0-305.generaltournal Weekly GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun Jun 2 APC Pony -900 2 Kaninch Jun eleco select (Q-310-10-2. Asked week) SUBSIDIARY LEDGERS Account: ARC- Pikea Account No. 110-3 Date Ret Debit Credit Description 31 Balance Balance 3.581 OR May Jun 2 1440 DRO Jun 100219-Asis Account: APC - Pony Account No. 210-1 (Q310-210-1 Acts we Date Rel. Description 31 Balance Debit Credit Balance May 1,381 CR Jun 2 purchases -900 Jun Jun Account: APC - JCN Blectrical Account No. 210-2 (Q-310-210-2. AcesPay2 wekt) Rel. Date May Description 31 Balance Debit Credit Balance 3,677 CR Jun . Jun 3 Jun : Account: APC Pear Technology Account No. 210-3 (Q310-210- Arch wek) Date Ref. Description 31 Balance Dabar Credit May Balance 3.003 CR Jun Jun Jun Account: APC - Big Telco Account No. 210-4 Rel Debit Date May Description 31 Balance Credit Balance 3,708 CR Jun Jun 1930- tal) GENERAL LEDGER Account: Cash Account No. 100 Datu Ref. Dabar Credit Description 31 Balance balo by Balance 29 875 OR May Jun 51000 Jun DO 10-320-111 Account ARC Accounts Receivable control Account No. 110 Date Rul Dub Cru Description Balance Balance 12.733 OR Jun Jun DOO (Q=32 Account: Merchandise Inventory Account No. 120 Date Description Rel. Debit Credit May 31 Balance Balance 75,453 DR Jun Jun Jun Account: APC - Accounts Payable Control Account No. 210 (9-320-210.A Dato Description 31 Balance Ref. Debit Credit Balance May 13,211 CR Jun . . Jun . Jun (Q=320-250. Account: Bank Loan Payable Account No. 250 Date Ref. Debit Credit Balance May Description 31 Balance coth Jun . -51000 - 51000 CR Jun Jun . (0-120-400. Sa perdisco.com 20-20-400 Sales Review) Account: Sales Revenue Account No. 400 Date Rel. Debit Description 31 Balance Credit Balance May Jun Jun Jun (0-120.402 ...) Account Sales Discounts Account No. 402 Rel. Debit Description 39 Balance Credit Date May Jun Balance JUR QOD Jun 10-12-30) Account Purchases Account No. 500 Date Ref. Dabli Credil Balance Description 31 Balance Mny Jun 1 Jun Jun Account: Purchase Discounts Account No. 502 Date Ref. Dobit Description 31 Balance Credit Balance May 0 Jun . Jun Jun 2