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Requirement 1. Journalize the transactions in the Discount Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. [Record debits first, then credits. Exclude explanations from any journal entries.) Mar. 1, 2013: Borrowed $525,000 from Lesshurg Bank. The 15- year, T91: note requires payments due annually, on March 1. Each payment consists of $35,000 principal plus one year's interest. Mites Payable 52 ll Dec. 1, 2018: Mortgaged the warehouse for $400,000 cash with Saban Bank. The mortgage requires monthly payments of $2,000. The interest rate on the note is 4% and accrues monthly. The first payment is due on January 1, 2019. Date Accounts Debit Credit 2018 Dec. 1 Cash 400000 Mortgage Payable 400000Dec. 31, 2018: Recorded interest accrued on the Saban Bank note. Date Accounts Debit Credit 2018 Dec. 31 Interest Expense 4000 Interest Payable 4000Dec. 31, 2018: Recorded interest accrued on the Lessburg Bank note. Date Accounts Debit Credit 2018 Dec. 31 Interest Expense 17500 Interest Payable 17500Jan. 1, 2019: Paid Saban Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Jan. 1 Mortgage Payable (2000) Interest Expense 4000 Cash 2000Feb. 1, 2019: Paid Saban Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Feb. 1 Mortgage Payable 1320 Interest Expense 680 Cash 2000Mar. 1, 2019: Paid first installment on note due to Lessburg Bank. Date Accounts Debit Credit 2019 Mar. 1 Interest Expense 6125 Interest Payable 17500 Notes Payable 35000 Cash 58625Requirement 2. Prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, Bill?! after all the journal entries are recorded. First, prepare an amortization schedule for the Sahan Bank mortgage to March 1, EEG. Prepare the schedule for the first three payments, then the remaining months one at a time. [Round your answers to the nearest Mule dJIIaL) Review the related journal entries you prepared in Requirement 1. Review the related journal entries you prepared in Requirement 1. Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 12/01/2018 1/01/2019 400000 (2000) 4000 2000 2/01/2019 398000 2000 3/01/2019 2000 4/01/2019 2000 5/01/2019 2000 6/01/2019 2000\fNow prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, 2019. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Review the amortization schedule you prepared above.