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$ 1,3 P11-32B Journalizing liability transactions The following transactions of Philadelphia Pharmacies occurred during 2017 and 2018: 8,020 2017 Jan. 9 Purchased computer equipment at
$ 1,3 P11-32B Journalizing liability transactions The following transactions of Philadelphia Pharmacies occurred during 2017 and 2018: 8,020 2017 Jan. 9 Purchased computer equipment at a cost of $7,000, signing a six-month, 8% note payable for that amount. 29 Recorded the week's sales of $68,000, three-fourths on credit and one- fourth for cash. Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Feb. 5 Sent the last week's sales tax to the state. Jul 9 Paid the six-month, 8% note, plus interest, at maturity. Aug. 31 Purchased merchandise inventory for $3,000, signing a six-month, 10% note payable. The company uses a perpetual inventory system. Dec. 31 Accrued warranty expense, which is estimated at 2% of sales of $609,000. 31 Accrued interest on all outstanding notes payable. 2018 Feb. 28 Paid the six-month 10% note, plus interest, at maturity. Journalize the transactions in Philadelphia's general journal. Explanations are not required
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