1.	Journalize the transactions in the Smith Pharmacies general journal. Round to the nearest dollar. Explanations are not required.
2.	Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2019 after all the journal entries are recorded.

Journalize the transactions in the Smith Pharmacies general journal. Round to the nearest dollar. Explanations are not required.
2.	Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2019 after all the journal entries are recorded

Mar. 1		Borrowed $100,000 from Margate Bank. The five-year, 99% note requires payments due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest.
Dec. 1		Mortgaged the warehouse for $300,000 cash with Sandi Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 33% and accrues monthly. The first payment is due on January 1, 2019.
31		Recorded interest accrued on the Sandi Bank note.
31		Recorded interest accrued on the Margate Bank note.
2019
Jan. 1		Paid Sandi Bank monthly mortgage payment.
Feb. 1		Paid Sandi Bank monthly mortgage payment.
Mar. 1		Paid Sandi Bank monthly mortgage payment.
1		Paid first installment on note due to Margate Bank.