Week 1
Date Transaction description
1 Obtained a loan of $44,000 from BitiBank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2024, and the principal of the loan is to be repaid on June 1, 2027.
2 Purchased 12 boxes of copies of The Idiot's Guide to Writing Books for Dummies from Books R Us for $320 each, terms net 30.
2 Paid the full amount owing to Polar Bear Books, Check No. 745. Payment fell outside the discount period.
2 Purchased 29 boxes of copies of A Shortened History of Space with cash for $160 each, Check No. 746.
4 Paid the full amount owing to Albatross, Check No. 747. Payment fell outside the discount period.
5 Purchased 19 boxes of copies of Barry Plotter and the Deathly Taxes from Deterministic Garage for $440 each, terms (2)/(10), (n)/(30).
5 Sold 14 boxes of copies of The Idiot's Guide to Writing Books for Dummies to Outlines for $440 each plus 5% sales tax, Invoice No. 317.
5 Made a cash sale of 46 boxes of copies of A Shortened History of Space for $320 each plus 5% sales tax.
6 Paid sales staff wages of $3,720 for the week up to and including yesterday, Check No. 748. Note that $2,000 of this payment relates to the wages expense incurred during the last week of May.
