JOURNALIZE

Week 1
Date	Transaction description
1	Obtained a loan of $47,000 from BitiBank 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 June 1, 2021.
2	Paid the full amount owing to JCN Electrical, Check No. 903. Payment fell within discount period.
3	Purchased 2 MX620 Notebook Computers from Mega Tech for $360 each, terms net 30.
4	Purchased 2 NR759 Video Recorders from Pear Technology for $200 each, terms 2/10, n/30.
4	Made cash sales of $6,205 during the first 4 days of the month.
5	Sold 3 DK800 Desktop Computers to Radio Hut for $640 each, Invoice No. 201.
6	Paid the full amount owing to Pony, Check No. 904. Payment fell within discount period.
6	Purchased 5 Tony ZIO MLP Projectors with cash for $110 each, Check No. 905.