I need these answers make sure u label them so i know what part is wherre. I will upvote you right away. Tansactions $-$ week $1$

Now that you have reviewed information about Disc$-$O$-$Tech, you are ready to begin the first step in the accounting cycle, recording transactions. On this page of the practice set, you are asked to record transactions that occurred during the first week of June into the company's journals and post the appropriate entries to the ledger accounts. The following transactions occurred throughout the first week of June:

Week $1$

Date Transaction description

$1$ Obtained a loan of $$47,000$ from ZNZ Bank 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 $1,2028.$

$2$ Sold $45$ My Chemical Imbalance T$-$shirts to Mel O'Dius for $$57$ each, Invoice No$.201.$

$3$ Paid the full amount owing to Black label, Check No$.903.$ Payment fell within discount period.

$4$ Purchased $75$ AC$/$BC T$-$shirts from Mapster records for $$15$ each, terms $2/10,$ n$/30.$

$4$ Purchased $45$ The Pixie Chicks CDs with cash for $$18$ each, Check No$.904.$

$5$ Made cash sales of $$7,400$ during the first $5$ days of the month.

$6$ Purchased $200$ Best of the $1870$ s$,80$ s & $90$s Albums from UML records for $$16$ each, terms net $30.$

$6$ Paid the full amount owing to Shadow records, Check No$.905.$ Payment fell within discount period.

After completing this practice set page, you should know how to record basic transactions in the journals provided below and understand the posting process in the manual accounting system. Note that you will record the remaining June transactions in the following sections of this practice set.

Remember, one purpose of using special journals is to make the posting process more efficient by posting the total of most columns in the special journals after all of the transactions for the period have been recorded. However, some parts of a journal entry are still required to be posted on a daily basis. View the company's accounting policies and procedures for details of what is to be posted daily or monthly.

Instructions for week $1$

Record all week $1$ transactions, in the relevant journals.

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

Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures?.

Note that the relevant totals of the special journals will be posted to the general ledger accounts at the end of the month. You will do this before you prepare the Bank Reconciliation Statement.

Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the cash amount, subtract the discount from the original amount.

Additional instructions

Displaying selected accounting records:

To save space, not all accounting records $($e$.$g$.$ journals and ledgers$)$ will be displayed on every page. However, on each page you can access all accounting records necessary to answer the questions on that page.

There are several tabs representing different views of the accounting records. The active tab by default is Show All, but you may also select to view just one particular accounting record by selecting the appropriate tab.

If you fill in any accounting records and change the view on the page by selecting a different tab, the information that you have entered will remain in that accounting record and be displayed whenever you can see that accounting record.

Before submitting your answers, we recommend that you click the Show All tab and check that all relevant accounting records have been completed. You are required to complete all relevant accounting records before pressing the Submit answers button. Once submitted, you will not be able to return to the page to re$-$enter or alter your answers.

Journals:

Each transaction recorded in a special journal must be entered in one line. In order to receive full points, you must not split up the relevant transaction into more than one line in the special journal.

For certain transactions in special journals, some accounting textbooks do not always require an account to be chosen under the column labeled Account. In this practice set you are required to select an account for each transaction in the special journals. Specifically, in all special journals, under the column labeled Account, you must select the correct account name for each transaction in order to receive full points. Note that for some tran$$actions$,$ this will mean that the account name selected will correspond to the heading of one of the columns in that special journal.

For each journal, in the Post Ref. column you