Dec.1,2018: Mortgaged the warehouse for$450,000 cash with SadlerBank. The mortgage requires monthly payments of$9,000.The interest rate on the note is 7%and accrues monthly. The first payment is due on January 1, 2019.

Requirement 2. Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2019 after all the journal entries are recorded. First, prepare an amortization schedule for the Sadler Bank mortgage to March 1, 2020. Prepare the schedule for the first three payments, then the remaining months one at a time. (Round your answers to the nearest whole dollar.)

Requirement 2. Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2019 after all the journal entries are recorded. First, prepare an amortization schedule for the Sadler Bank mortgage to March 1, 2020. Prepare the schedule for the first three payments, then the remaining months one at a time. (Round your answers to the nearest whole dollar.) Review the related journal entries you prepared in Requirement 1. Beginning Interest Total Ending Principal Payment Balance Expense Payment Balance 12/01/2018 450,000 1/01/2019 $ 450,000 $ 6,375 $ 2,625 $ 9,000 443,625 2/01/2019 443,625 6,412 2,588 9,000 437,213 3/01/2019 437,213 6,450 2,550 9,000 430,763 4/01/2019 Enter any number in the edit fields and then click Check Answer. ? 12 parts remaining Clear All Check Answer 3/01/2019 437,213 6,450 2,550 9,000 430,763 4/01/2019 Enter any number in the edit fields and then click Check Answer. ? 12 parts remaining Clear All Check Answer Read the requirements. 2018 Notes Payable Dec. 1 Cash 450,000 Cash Mortgage Payable 450,000 Dec. 31 2,625 Requirement 2. Prepare the liabilities section of the Interest Expense Interest Payable 2,625 one at a time. (Round your answers to the nearest 2019 First, prepare an amortization schedule for the Sad whole dollar.) Review the related journal entries you prepared in Jan. 1 Interest Payable 2,625 Mortgage Payable 6,375 Beginning Principal Cash 9,000 Balance Payment E Feb. 1 Interest Expense 2,588 12/01/2018 Mortgage Payable 6,412 1/01/2019 450,000 $ 6,375 $ Cash 9,000 2/01/2019 443,625 6,412 Mar. 1 Interest Expense 2,550 3/01/2019 437,213 6,450 Mortgage Payable 6,450 4/01/2019 Cash 9,000 Enter any number in the edit fields and then click ? Print Done 12 parts remaining Check