Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

requirement 1. journalize the transactions in the great value pharmacy general journal. round all answers to the nearest dollars explanations are not required recorded debits

image text in transcribed
requirement 1. journalize the transactions in the great value pharmacy general journal. round all answers to the nearest dollars explanations are not required recorded debits first then credits exclude explanations from any journal entries round all answers to the nearest dollar.
image text in transcribed
AL More IN 10.000 w the 0.000 . Des Des 3 J. F Piem www 2 when we swah, WA D 21 deur payment consists of $30.000 principal plus one year's interest. Credit More Info X Mar. 1. 2018 Dec. 1. 2018 Dec 31, 2018 Dec. 31, 2018 Jan 1, 2019 Feb. 1. 2019 Mar. 1, 2019 Borrowed $210,000 from Nelson Bank. The seven-year, 5% not requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Mortgaged the warehouse for $150,000 cash with Southside Bank. The mortgage requires monthly payments of $2,000. The interest rate on the note is 8% and accrues monthly. The first payment is due on January 1, 2019 Recorded interest accrued on the Southside Bank noto. Recorded interest accrued on the Nelson Bank note Paid Southside Bank monthly mortgage payment. Paid Southside Bank monthly mortgage payment. Paid Southside Bank monthly mortgage payment. Paid first installment on note due to Nelson Bank Mar. 1, 2019 Print Done Requirements 1. Journalize the transactions in the Great Value Pharmacies general Journal Round to the nearest dollar. Explanations are not required. 2. Prepare the abilities section of the balance sheet for Great Value Pharmacies on March 1, 2019 after all the journal entries are recorded. Print Done ck Answer Clear All

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data Analytics For Accounting

Authors: Vernon Richardson

3rd Edition

1264444907, 9781264444908

More Books

Students also viewed these Accounting questions