Week 1 Date Transaction description

1 Obtained a loan of $42,000 from ZNZ Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2019 and the principal of the loan is to be repaid on June 1, 2023.

2 Purchased 220 copies of Backpackers Guide to the Universe from Deterministic Garage for $18 each, terms net 30.

3 Paid the full amount owing to Albatross, Check No. 903. Payment fell within discount period.

4 Purchased 150 copies of A Shortened History of Space from Stompson for $27 each, terms 2/10, n/30.

5 Paid the full amount owing to Polar Bear Books, Check No. 904. Payment fell within discount period.

5 Sold 80 copies of Barry Plotter and the Chart of Accounts to Attic Books for $45 each, Invoice No. 501.

5 Made cash sales of $7,872 during the first 5 days of the month.

5 Purchased 105 copies of Barry Plotter and the Order of the Stock with cash for $13 each, Check No. 905.

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 procedures. Show AllSpecial JournalsGeneral JournalSubsidiary LedgersGeneral Ledger (Q=301.salesJournalWeek1)

Show AlIl Special Journals General Journal Subsidiary Ledgers General Ledger SALES JOURNAL InvoicePost Ref. Account Amount Date select) select) select) select) Jun Jun Jun Jun PURCHASES JOURNAL Post Amount Ref Date Account Terms select) select) select) select) Jun Jun Jun Jun (Q CASH RECEIPTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', asi above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate accou Account column so that the type of transaction can be determined by the name of the account entered into this column. Debit Credit Post Ref. Date Account Sales Discounts Revenue Receivable Accounts Sales Accounts Other select) Jun Jun Jun Jun Jun Jun select) select) select) select) CASH PAYMENTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', asi above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate acco Account column so that the type of transaction can be determined by the name of the account entered into this column. Debit Credit Check Post Date Account Ref. Accounts Purchases Accounts No. Other Cash Purchase Payable Discounts select Jun Jun Jun select) select) select select) Jun GENERAL JOURNAL Post Date Account and Explanation Debit Credit (select) Jun (select) select) Jun select) select) Jun (select) SUBSIDIARY LEDGERS Account: ARC - Attic Books Account No. 110-3 Date May Jun Jun Jun Description Debit Credit Balance Ref. 31 Balance 2,046 DR Account: APC - Stompson Account No. 210-1 Account: APC - Stompson Account No. 210-1 Description Date May Jun Jun Jun Debit Credit Balance Ref 31 Balance 2,145 CR Account: APC Polar Bear Books Account No. 210-2 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 Balance 1,407 CR Account: APC - Deterministic Garage Account No. 210-3 Date May Jun Jun Jun Description Debit Credit Balance Ref. 31 Balance 4,697 CR Account: APC - Deterministic Garage Account No. 210-3 Debit Date May Jun Jun Jun Credit Description Ref. Balance 31 Balance 4,697 CF Account: APC - Albatross Account No. 210-4 Ref. Debit Date May Jun Jun Credit Balance Description 31 Balance 1,443 CR Jun GENERAL LEDGER Account: Cash Account No. 100 Debit Date May Jun Jun Jun Ref. Credit Balance Description 31 Balance 28,099 DR Account: ARC Accounts Receivable Control Account No. 110 Date May Jun Jun Description Debit Credit Ref. Balance 8,208 DR 31 Balance Account: Merchandise Inventory Account No. 120 Date May Jun Jun Jun Description Ref. Credit Balance Debit 31 Balance 74,324 DR Account: APC - Accounts Payable Control Account No. 210 Date May Jun Jun Jun Credit Balance Description Ref. Debit 31 Balance 11,232 CR Account: Bank Loan Payable Account No. 250 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 Balance Account: Sales Revenue Account No. 400 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 |Balance Account: Sales Discounts Account No. 402 Date May Jun Jun Jun Description Ref Debit Credit Balance 31 Balance Account: Purchases Account No. 500 Credit Balance Date May Jun Jun Jun Ref. Debit Description 31 Balance Account: Purchase Discounts Account No. 502 Debit Date May Jun Jun Jun Description Ref. Credit Balance 31 Balance Submit answers Show AlIl Special Journals General Journal Subsidiary Ledgers General Ledger SALES JOURNAL InvoicePost Ref. Account Amount Date select) select) select) select) Jun Jun Jun Jun PURCHASES JOURNAL Post Amount Ref Date Account Terms select) select) select) select) Jun Jun Jun Jun (Q CASH RECEIPTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', asi above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate accou Account column so that the type of transaction can be determined by the name of the account entered into this column. Debit Credit Post Ref. Date Account Sales Discounts Revenue Receivable Accounts Sales Accounts Other select) Jun Jun Jun Jun Jun Jun select) select) select) select) CASH PAYMENTS JOURNAL Note: In order to receive full points, for each transaction you must select an account under the column labeled 'Account', asi above. Since all transactions in this journal affect the Cash account, you are asked to enter the name of the appropriate acco Account column so that the type of transaction can be determined by the name of the account entered into this column. Debit Credit Check Post Date Account Ref. Accounts Purchases Accounts No. Other Cash Purchase Payable Discounts select Jun Jun Jun select) select) select select) Jun GENERAL JOURNAL Post Date Account and Explanation Debit Credit (select) Jun (select) select) Jun select) select) Jun (select) SUBSIDIARY LEDGERS Account: ARC - Attic Books Account No. 110-3 Date May Jun Jun Jun Description Debit Credit Balance Ref. 31 Balance 2,046 DR Account: APC - Stompson Account No. 210-1 Account: APC - Stompson Account No. 210-1 Description Date May Jun Jun Jun Debit Credit Balance Ref 31 Balance 2,145 CR Account: APC Polar Bear Books Account No. 210-2 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 Balance 1,407 CR Account: APC - Deterministic Garage Account No. 210-3 Date May Jun Jun Jun Description Debit Credit Balance Ref. 31 Balance 4,697 CR Account: APC - Deterministic Garage Account No. 210-3 Debit Date May Jun Jun Jun Credit Description Ref. Balance 31 Balance 4,697 CF Account: APC - Albatross Account No. 210-4 Ref. Debit Date May Jun Jun Credit Balance Description 31 Balance 1,443 CR Jun GENERAL LEDGER Account: Cash Account No. 100 Debit Date May Jun Jun Jun Ref. Credit Balance Description 31 Balance 28,099 DR Account: ARC Accounts Receivable Control Account No. 110 Date May Jun Jun Description Debit Credit Ref. Balance 8,208 DR 31 Balance Account: Merchandise Inventory Account No. 120 Date May Jun Jun Jun Description Ref. Credit Balance Debit 31 Balance 74,324 DR Account: APC - Accounts Payable Control Account No. 210 Date May Jun Jun Jun Credit Balance Description Ref. Debit 31 Balance 11,232 CR Account: Bank Loan Payable Account No. 250 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 Balance Account: Sales Revenue Account No. 400 Date May Jun Jun Jun Description Ref. Debit Credit Balance 31 |Balance Account: Sales Discounts Account No. 402 Date May Jun Jun Jun Description Ref Debit Credit Balance 31 Balance Account: Purchases Account No. 500 Credit Balance Date May Jun Jun Jun Ref. Debit Description 31 Balance Account: Purchase Discounts Account No. 502 Debit Date May Jun Jun Jun Description Ref. Credit Balance 31 Balance Submit answers