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Requirement 2. Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2025 after all the journal entries are recorded.
Requirement 2. Prepare the liabilities section of the balance sheet for Smith Pharmacies on March 1, 2025 after all the journal entries are recorded. First, prepare an amortization schedule for the Southside 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.) Review the related journal entries you prepared in Requirement 1 Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 12/01/2024 $ 200,000 1/01/2025 $ 200,000 $ 9,167 $ 833 $ 10,000 190,833 2/01/2025 190,833 9,205 795 10,000 181,628 3/01/2025 181,628 9,243 757 10,000 172,385 4/01/2025 172,385 9,282 718 10,000 163,103 5/01/2025
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