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question 1 record all week 1 transactions in therelevant journals note that special 4279257

Question

1)Record all week 1 transactions in therelevant journals.

Note that special journals must be used where applicable. Anytransaction that cannot be recorded in a special journal should berecorded in the general journal.

Date

Transaction description

1

Obtained a loan of $52,000 from ZNZBank at a simple interest rate of 6% per year. The first interestpayment is due at the end of August 2016 and the principal of theloan is to be repaid on June 1, 2019.

3

Made cash sales of $4,573 duringthe first 3 days of the month.

4

Paid the full amount owing to JCNElectrical, Check No. 603. Payment fell within discountperiod.

5

Paid the full amount owing to MoonMegasystems, Check No. 604. Payment fell within discountperiod.

5

Purchased 3 BG90 Plasma Televisionswith cash for $410 each, Check No. 605.

6

Purchased 3 Mieca Camera Lensesfrom Big Telco for $240 each, terms 2/10, n/30.

6

Sold 8 MePod Multimedia Players toTurbo Tech for $210 each, Invoice No. 501.

7

Purchased 10 Zii Game Consoles fromPony for $100 each, terms net 30.

 

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