Week 1 Date Transaction description 1 Issued Check No. 771 for $9,600 to pay Realty Bites for two month's worth of rent in advance. 1 Obtained a loan of $49,000 from MRMC 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, 2027. 3 Mick's Sporting Goods paid the full amount owing on their account. 4 Paid the full amount owing to J. J. Spud, Check No. 772. 4 Paid sales staff wages of $2,239 for the week up to and including yesterday, Check No. 773. Note that $1,199 of this payment relates to the wages expense incurred during the last week of May. 6 Made payment of $783 to Enroff for 3 months of electricity up to and including May 31, Check No. 774. 6 Issued Check No. 775 to Office Supplies Warehouse for the purchase of $356 worth of office supplies.Now that you have reviewed information about Ball - Mart, 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 Issued Check No. 771 for $9,600 to pay Realty Bites for two month's worth of rent in advance. 1 Obtained a loan of $49,000 from MRMC 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, 2027. 3 Mick's Sporting Goods paid the full amount owing on their account. 4 Paid the full amount owing to J. J. Spud, Check No. 772. 4 Paid sales staff wages of $2,239 for the week up to and including yesterday, Check No. 773. Note that $1,199 of this payment relates to the wages expense incurred during the last week of May. 6 Made payment of $783 to Enroff for 3 months of electricity up to and including May 31, Check No. 774. 6 Issued Check No. 775 to Office Supplies Warehouse for the purchase of $356 worth of office supplies.Now that you have reviewed information about Ball - Mart, 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 Issued Check No. 771 for $9,600 to pay Realty Bites for two month's worth of rent in advance. 1 Obtained a loan of $49,000 from MRMC 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, 2027. 3 Mick's Sporting Goods paid the full amount owing on their account. 4 Paid the full amount owing to J. J. Spud, Check No. 772. 4 Paid sales staff wages of $2,239 for the week up to and including yesterday, Check No. 773. Note that $1,199 of this payment relates to the wages expense incurred during the last week of May. 6 Made payment of $783 to Enroff for 3 months of electricity up to and including May 31, Check No. 774. 6 Issued Check No. 775 to Office Supplies Warehouse for the purchase of $356 worth of office supplies.