The following transactions of Emergency Pharmacies occurred during 2014 and2015:2014Mar. 1Borrowed $360,000 from Lessburg Bank. The six-year, 10% note requires payments due annually, on March 1. Each payment consists of $60,000 principal plus one years interest.Dec. 1Mortgaged the warehouse for $200,000 cash with Saputo Bank. The mortgage requires monthly payments of $4,000. The interest rate on the note is 9% and accrues monthly. The first payment is due on January 1, 2015.31Recorded interest accrued on the Saputo Bank note.31Recorded interest accrued on the Lessburg Bank note.2015Jan. 1Paid Saputo Bank monthly mortgage payment.Feb. 1Paid Saputo Bank monthly mortgage payment.Mar. 1Paid Saputo Bank monthly mortgage payment.1Paid first installment on note due to Lessburg Bank.Requirements1.Journalize the transactions in the Emergency Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required.2.Prepare the liabilities section of the balance sheet for Emergency Pharmacies on March 1, 2015.