Question

Issued Check No. 868 for $8,200 to pay Blue Blazer Realty for two month's worth of...

Issued Check No. 868 for $8,200 to pay Blue Blazer Realty for two month's worth of rent in advance.

1

Obtained a loan of $48,000 from MRMC Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2018 and the principal of the loan is to be repaid on June 1, 2023.

2

Paid the full amount owing to Addax Sports, Check No. 869.

2

Issued Check No. 870 to Office Supplies Warehouse for the purchase of $580 worth of office supplies.

4

Made payment of $840 to State Power for 3 months of electricity up to and including May 31, Check No. 871.

4

Paid sales staff wages of $1,879 for the week up to and including yesterday, Check No. 872. Note that $1,135 of this payment relates to the wages expense incurred during the last week of May.

5

Jump Around paid the full amount owing on their account.

(Q=310-110-5.AcctsRec5_week1)

SUBSIDIARY LEDGERS

Account: ARC - Jump Around
Account No. 110-5

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

4,308 DR

Jun

Jun

Jun

(Q=310-210-1.AcctsPay1_week1)

Account: APC - Hike
Account No. 210-1

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

2,227 CR

Jun

Jun

Jun

(Q=310-210-6.AcctsPay6_week1)

Account: APC - Addax Sports
Account No. 210-6

Date

Description

Ref.

Debit

Credit

Balance

May

31

Balance

3,395 CR

Jun

Jun

Jun

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