Week $1$

Date Transaction description

$1$ Obtained a loan of $$44,000$ from BitiBank at a simple interest rate of $6\%$ per year. The first interest payment is due at the end of August $2024$ and the principal of the loan is to be repaid on June $1,2027.$

$2$ Purchased $12$ boxes of copies of The idiot's Guide to Writing Books for Dummies from Books R Us for $$320$ each, terms net $30.$

$2$ Paid the full amount owing to Polar Bear Books, Check No$.745.$ Payment fell outside discount period.

$2$ Purchased $29$ boxes of copies of A Shortened History of Space with cash for $$160$ each, Check No$.746.$

$4$ Paid the full amount owing to Albatross, Check No$.747.$ Payment fell outside discount period.

$5$ Purchased $19$ boxes of copies of Barry Plotter and the Deathly Taxes from Deterministic Garage for $$440$ each, terms $\frac{2}{10},\frac{n}{30}$

$5$ Sold $14$ boxes of copies of The idiot's Guide to Writing Books for Dummies to Outlines for $$440$ each, plus $5\%$ sales tax, Invoice No$.317.$

$5$ Made cash sale of $46$ boxes of copies of A Shortened History of Space for $$320$ each plus $5\%$ sales tax.

$6$ Paid sales staff wages of $$3,720$ for the week up to and including yesterday, Check No$.748.$ Note that $$2,000$ of this payment relates to the wages expense incurred during the last week of May.