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Please complete in excel P11-27A Journalizing liability transactions The following transactions of Denver Pharmacies occurred during 2013 and 2014: 2013 Purchase computer equipment at a
Please complete in excel
P11-27A Journalizing liability transactions The following transactions of Denver Pharmacies occurred during 2013 and 2014: 2013 Purchase computer equipment at a cost of $9,000, signing a six-month, 6% note payablthat amount. Jan. credit and one-fourth for cash Recorded the week's sales of $64,000, three-fourths Sales amounts are subject to a 6% state sales tax. Ignore cost of goods sold. Sent the last week's sales tax to the state 29 on Feb. Paid the six-month, 6% note, plus interest, at maturity Jul. Purchased merchandise inventory for $12,000, signing a six-month, 9% note payable. The company uses the perpetual inventory system. Aug. 31 Accrued warranty expense, which is estimated at 2% of sales of $603,000. Dec. 31 Accrued interest on all outstanding notes payable. 31 2014 Feb. 28 Paid off the 9% note plus interest at maturity Journalize the transactions in Denver's general journal. Explanations are not requiredStep by Step Solution
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