Requirements 1. Journalize the transactions in the Discount Pharmacies general journal. Round to the nearest dollar. Explanations are not required. 2. Prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, 2025 after all the journal entries are recorded. More Info Mar. 1, 2024 Dec. 1, 2024 Dec. 31, 2024 Dec. 31, 2024 Jan. 1, 2025 Feb. 1, 2025 Mar. 1, 2025 Mar. 1, 2025 Borrowed 5720,000 from Margate Bank. The 12-year, 10% note requires payments due annually, on March 1. Each payment consists of $60,000 principal plus one year's interest. Mortgaged the warehouse for $600,000 cash with Sandi Bank. The mortgage requires monthly payments of $7,000. The interest rate on the note is 8% and accrues monthly. The first payment is due on January 1, 2025 Recorded interest accrued on the Sandi Bank note. Recorded interest accrued on the Margate Bank note. Paid Sandi Bank monthly mortgage payment Paid Sandi Bank monthly mortgage payment. Paid Sandi Bank monthly mortgage payment. Paid first installment on note due to Margate Bank. Requirement 1. Journalize the transactions in the Discount 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. 2024: Borrowed $720,000 from Margate Bank. The 12-year, 10% note requires payments due annually, on March 1. Each payment consists of $60,000 principal plus one year's interest. Date Accounts Debit Credit 2024 Mar. 1 Cash 720.000 Notes Payable 720,000 Dec. 1, 2024: Mortgaged the warehouse for $600,000 cash with Sandi Bank. The mortgage requires monthly payments of $7,000. The interest rate on the note is 8% and accrues monthly. The first payment is due on January 1, 2025