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P12-32A (similar to) The following transactions of Discount Pharmacies occurred during 2018 and 2019: i (Click the icon to view the transactions.) Read the requirements 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. 2018: Borrowed $330,000 from Naples Bank. The six-year, 14% note requires payments due annually, on March 1. Each payment consists of $55,000 principal plus one year's interest. Date Accounts Debit Credit 2018 Mar. 1 Cash 330,000 Notes Payable 330,000 Dec. 1. 2018: Mortgaged the warehouse for $200,000 cash with Southside Bank. The mortgage requires monthly payments of $9,000. The interest rate on the note is 12% and accrues monthly. The first payment is due on January 1, 2019. Date Accounts Debit Credit 2018 Dec. 1 Cash 200,000 Mortgage Payable 200,000 Dec. 31. 2018. Recorded interest accrued on the Southside Bank note. Date Accounts Debit Credit 2018 Dec. 31 2.000 Interest Expense Interest Payable 2,000 Choose from any list or enter any number in the input fields and then click Check Answer. i - Requirements 1. Journalize the transactions in the Discount Pharmacies general journal. Round to the nearest dollar. Explanations are not required. 2. Prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, 2019 after all the journal entries are recorded. Print Done 9. 0 More Info 2018 Mar. 1 Borrowed $330,000 from Naples Bank. The six-year, 14% note requires payments due annually, on March 1. Each payment consists of $55,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $200,000 cash with Southside Bank. The mortgage requires monthly payments of $9,000. The interest rate on the note is 12% and accrues monthly. The first payment is due on January 1, 2019. 31 Recorded interest accrued on the Southside Bank note. 31 Recorded interest accrued on the Naples Bank note. 2019 Jan. 1 Paid Southside Bank monthly mortgage payment. Feb. 1 Paid Southside Bank monthly mortgage payment. Mar 1 Paid Southside Bank monthly mortgage payment. 1 Paid first installment on note due to Naples Bank Print Done Dec 31, 2018: Recorded interest accrued on the Naples Bank note Date Accounts Debit Credit 2018 Dec. 31 38,500 Interest Expense Interest Payable 38,500 Jan. 1. 2019: Paid Southside Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Jan. 1 2,000 Interest Payable Mortgage Payable Cash 7,000 9,000 Feb. 1, 2019: Paid Southside Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Feb. 1 1.930 Interest Expense Mortgage Payable Cash 7,070 9,000 Mar. 1, 2019: Paid Southside Bank monthly mortgage payment. Feb. 1, 2019: Paid Southside Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Feb. 1 1,930 Interest Expense Mortgage Payable Cash 7.070 9,000 Mar. 1, 2019: Paid Southside Bank monthly mortgage payment. Date Accounts Debit Credit 2019 Mar. 1 Cash 9000 Choose from any list or enter any number in the input fields and then click Check Answer. 15 parts Clear All remaining