Week 1 Date Transaction description

1 Purchased 5 Tony ZIO MLP Projectors from Big Telco for $110 each, terms net 30.

1 Obtained a loan of $48,000 from Earth Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2016 and the principal of the loan is to be repaid on June 1, 2020.

2 Paid the full amount owing to Mega Tech, Check No. 603. Payment fell within discount period.

3 Made cash sales of $4,707 during the first 3 days of the month.

5 Paid the full amount owing to JCN Electrical, Check No. 604. Payment fell within discount period.

6 Purchased 6 Zii Game Consoles from Moon Megasystems for $90 each, terms 2/10, n/30.

6 Sold 2 DK800 Desktop Computers to Jerry Technology for $610 each, Invoice No. 201.

6 Purchased 4 NR759 Video Recorders with cash for $190 each, Check No. 605.

Record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts (special journals, general journal, subsidiary ledger, general ledger)