Mrmc Bank Accounting Transactions

Week 1 | |

Date | Transaction description | |

1 | Obtained a loan of $58,000 from MRMC 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 1 June 2020. | |

2 | Paid the full amount owing to Jordo Gourmet Coffee, Cheque No. 903. Payment fell within discount period. | |

2 | Sold Organic Chocolate Cream Liqueur to Con's Coffee for $250, Invoice No. 201. | |

3 | Purchased Coffee Cup Lids from Dominga Wholesalers for $170, terms net 30. | |

3 | Made cash sales of $4,748 during the first 3 days of the month. | |

3 | Purchased 8 packages of Plastic Coffee Mugs with cash for $149 each, Cheque No. 904. | |

5 | Paid the full amount owing to Croup Coffee, Cheque No. 905. Payment fell within discount period. | |

6 | Purchased Gourmet Cubed Sugar from Buena Vista Coffee for $302, terms 2/10, n/30. | |

You can find the instructions on this link.    http://www.mediafire.com/download/55ljklkd96uih5n/instructions.docx

Using the above transactions and instructions, please fill the below journals. I have filled some. Please correct them if required.

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SALES JOURNAL

Date | Account | Invoice

No. | Post

Ref. | Amount |   |

Jun | | ARC - Con's Coffee(select) | | | | |

Jun | | (select) | | | | |

Jun | | (select) | | | | |

Jun | | (select) | | | | |

(Q=302.purchasesJournalWeek1)

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PURCHASES JOURNAL

Date | Account | Terms | Post

Ref. | Amount |   |

Jun | | APC - Dominga Wholesalers(select) |         | | | |

Jun | | APC - Buena Vista Coffee(select) |         | | | |

Jun | | (select) |         | | | |

Jun | | (select) |         | | | |

(Q=303.cashReceiptsJournalWeek1)

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CASH RECEIPTS JOURNAL

Note: In order to receive full points, for each transaction...