Requirement 1. Journalize the transactions in the Emergency 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. Round all answers to the nearest dollar.) Mar. 1, 2024: Borrowed $400,000 from Niceville Bank. The eight- year, 10% note requires payments due annually, on March 1. Each payment consists of $50,000 principal plus one year's interest. Date Accounts Debit Credit 2024 Mar. 1 Cash 400,000 Notes Payable 400,000 Dec. 1, 2024: Mortgaged the warehouse for $500,000 cash with Sadler Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 8% and accrues monthly. The first payment is due on January 1, 2025. Date Accounts Debit Credit 2024 Dec. 1 Cash 500,000 Mortgage Payable 500,000Dec. 31, 2024: Recorded interest accrued on the Sadler Bank note. Date Accounts Debit Credit 2024 Dec. 31 Interest Expense 3,333 Interest Payable 3,333Dec. 31, 2024: Recorded interest accrued on the Niceville Bank note. Date Accounts Debit Credit 2024 Dec. 31 Interest Expense 33,333 Interest Payable 33,333Jan. 1, 2025: Paid Sadler Bank monthly mortgage payment. Date Accounts Debit Credit 2025 Jan. 1 Mortgage Payable 2,667 Interest Payable 3,333 Cash 6,000Feb. 1, 2025: Paid Sadler Bank monthly mortgage payment. Date Accounts Debit Credit 2025 Feb. 1 Mortgage Payable 2,684 Interest Expense 3,316 Cash 6,000Mar. 1, 2025: Paid Sadler Bank monthly mortgage payment. I Credit Date Accounts Mar. 1 Mortgage Payable Interest Expense Cash 6,000 Mar. 1, 2025: Paid first installment on note due to Niceville Bank. Date Accounts Debit Credit 2025 Mar. 1 Notes Payable 50,000 Interest Payable 33,333 Interest Expense 6,667 Cash 90,000Requirement 2. Prepare the liabilities section of the balance sheet for Emergency Pharmacies on March 1, 2025 after all the journal entries are recorded. First, prepare an amortization schedule for the Sadler Bank mortgage to March 1, 2026. Prepare the schedule for the first three payments, then the remaining months one at a time. (Round your answers to the nearest whole dollar.) Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 12/01/2024 |:| 1/01/2025 :l:|:l:l:l 2/01/2025 :l:|:l:l:l 3/01/2025 :l:|:l:l:l