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Hello, I am looking for separate journal entries for each transaction day listed (8 total). please only use the specific discriptions listed. thank you!!!! that
Hello, I am looking for separate journal entries for each transaction day listed (8 total). please only use the specific discriptions listed. thank you!!!!
that is all the information I have please let me know specifically if there is anything else needed.
Background: Johnson Pharmacies entered into the transactions listed in the Transaction section below. Transactions: 03/02/2018 Borrowed $450,000 cash from Coconut Creek Bank, The 15-year, 5% note requires payments due annually on March 1. Each payment consists of $30,000 of principal plus one year's interest. 12/01/2018 Mortgaged the warehouse for $250,000 cash with Saputo Blank. The mortgage requires monthly payment of $8,000. The interest rate on the note is 12% and accrues monthly. The first payment is due on January 1, 2019 12/31/2018 Recorded interest accrued on the Saputo Bank mortgage (round calculations to the nearest dollar). Transactions: 12/31/2018 Recorded interest accrued on the Coconut Creek Banknote (round calculations to the nearest dollar). 01/01/2019 Paid Saputo Bank monthly mortgage payment (round calculations to the nearest dollar) 02/01/2019 Paid Saputo Bank monthly mortgage payment (round calculations to the nearest dollar) 03/01/2019 Paid Saputo Bank monthly mortgage payment (round calculations to the nearest dollar). 03/01/2019 Paid first installment on note due to Coconut Creek Bank (round calculations to the nearest dollar). SAVE WORK RESET RESULTS SUBMIT WORK PROTE Step by Step Solution
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