Requirement 1. Journalize the transactions in the

Wholesale 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 $350,000 from Margate Bank. The seven-year, 99% note requires payments due annually, on

March1. Each payment consists of $50,000 principal plus one year's interest.

Date			Accounts	Debit	Credit
2018
Mar. 1

Dec.Dec. 1, 2018: Mortgaged the warehouse for $150,000 cash with Sandi Bank. The mortgage requires monthly payments of $10,000.The interest rate on the note is 44% and accrues monthly. The first payment is due on January 1, 2019.

Date			Accounts	Debit	Credit
2018
Dec. 1

Dec. 31,2018: Recorded interest accrued on the Sandi Bank note.

Date			Accounts	Debit	Credit
2018
Dec. 31

Dec.31,2018: Recorded interest accrued on the Margate Bank note.

Date			Accounts	Debit	Credit
2018
Dec. 31

Jan.1, 2019: Paid Sandi Bank monthly mortgage payment.

Date			Accounts	Debit	Credit
2019
Jan. 1

Feb.1,2019: Paid Sandi Bank monthly mortgage payment.

Date			Accounts	Debit	Credit
2019
Feb. 1

Mar.1,2019: Paid Sandi Bank monthly mortgage payment.

Date			Accounts	Debit	Credit
2019
Mar. 1

Mar 1, 2019: Paid first installment on note due to Margate Bank.

Date			Accounts	Debit	Credit
2019
Mar. 1